Maryland Commercial Law Section 6-110

      When the title of a transferee to property is subject to a defect by reason of his noncompliance with the requirements of this title, then:

            (1)      A purchaser of any of such property from such transferee who pays no value or who takes with notice of such noncompliance takes subject to such defect, but

            (2)      A purchaser for value in good faith and without such notice takes free of such defect.