2019 Maryland Code
Real Property
Title 10 - Sales of Property
Subtitle 1 - Land Installment Contracts
§ 10-107. Statement to be furnished by vendor

    (a)    Every vendor under a land installment contract shall mail or deliver a statement to the purchaser:

        (1)    When 40 percent of the original cash price has been paid; and

        (2)    (i)    Annually within 30 days of January 1; or

            (ii)    On demand of the purchaser no more than twice a year.

    (b)    The statement shall show:

        (1)    The total amount paid for any ground rent, insurance, taxes, and any other periodic charge;

        (2)    The amount credited to principal and interest; and

        (3)    The balance due.

Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.