EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*sb0962*
SENATE BILL 962
N1 4lr1772
CF 4lr1771
By: Senator Ready
Introduced and read first time: February 2, 2024
Assigned to: Judicial Proceedings
A BILL ENTITLED
AN ACT concerning 1
Real Property – Contracts of Sale – Title Report Requirement 2
FOR the purpose of requiring the seller of any real property to provide a certain title report 3
to the buyer prior to closing; authorizing a buyer to rescind a contract of sale under 4
certain circumstances; establishing that a violation of this Act is an unfair, abusive, 5
or deceptive trade practice; and generally relating to title reports. 6
BY repealing and reenacting, with amendments, 7
Article – Commercial Law 8
Section 13–301(14)(xl) 9
Annotated Code of Maryland 10
(2013 Replacement Volume and 2023 Supplement) 11
BY repealing and reenacting, without amendments, 12
Article – Commercial Law 13
Section 13–301(14)(xli) 14
Annotated Code of Maryland 15
(2013 Replacement Volume and 2023 Supplement) 16
BY adding to 17
Article – Commercial Law 18
Section 13–301(14)(xlii) 19
Annotated Code of Maryland 20
(2013 Replacement Volume and 2023 Supplement) 21
BY adding to 22
Article – Real Property 23
Section 10–714 24
Annotated Code of Maryland 25
(2023 Replacement Volume) 26
2 SENATE BILL 962
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 1
That the Laws of Maryland read as follows: 2
Article – Commercial Law 3
13–301. 4
Unfair, abusive, or deceptive trade practices include any: 5
(14) Violation of a provision of: 6
(xl) Title 14, Subtitle 13 of the Public Safety Article; [or] 7
(xli) Title 14, Subtitle 45 of this article; or 8
(XLII) § 10–714 OF THE REAL PROPERTY ARTICLE; OR 9
Article – Real Property 10
10–714. 11
(A) THE SELLER OF ANY REA L PROPERTY LOCATED I N THE STATE SHALL, 12
PRIOR TO CLOSING , PROVIDE THE BUYER WI TH A TITLE REPORT TH AT IS 13
SUPPORTED BY AN AFFI DAVIT BY THE PERSON MAKING THE TITLE SEA RCH STATING 14
THAT A COMPLETE SEAR CH OF THE PUBLIC REC ORDS COVERING A PERI OD OF NOT 15
LESS THAN 60 YEARS HAS BEEN PERFO RMED IN ACCORDANCE WITH GE NERALLY 16
ACCEPTED STANDARDS O F TITLE EXAMINATION . 17
(B) A BUYER, BY WRITTEN NOTICE TO THE SELLER NOT LATER THAN 5 DAYS 18
AFTER CLOSING , MAY RESCIND A CONTRA CT OF SALE FOR REAL PROPERTY IF THE 19
TITLE REPORT PROVIDE D UNDER SUBSECTION (A) OF THIS SECTION REVEALS ANY 20
OF THE FOLLOWING TIT LE DEFECTS: 21
(1) AN UNMARKETABLE TITLE ; 22
(2) A FRAUDULENT OR FORGED DEED; 23
(3) AN ENCUMBRANCE OR EAS EMENT; 24
(4) A MISSING HEIR; 25
(5) A LIEN; 26
(6) A DISPUTED BOUNDARY ; OR 27
SENATE BILL 962 3
(7) ANY OTHER DEFECT THAT MATERIALLY IMPACTS T HE BUYER’S 1
CLAIM OF TITLE. 2
(C) FAILURE TO PROVIDE A TITLE REPORT AS REQU IRED BY SUBSECTION 3
(A) OF THIS SECTION IS: 4
(1) AN UNFAIR, ABUSIVE, OR DECEPTIVE TRADE P RACTICE WITHIN 5
THE MEANING OF TITLE 13 OF THE COMMERCIAL LAW ARTICLE; AND 6
(2) SUBJECT TO THE ENFORC EMENT AND PENALTY PR OVISIONS 7
CONTAINED IN TITLE 13 OF THE COMMERCIAL LAW ARTICLE. 8
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 9
October 1, 2024. 10