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2019 Maryland Code
Real Property
Title 10 - Sales of Property
Subtitle 3 - Deposits on New Homes
§ 10-301.1. Money received by vendor or builder.
Universal Citation:
MD Real Prop Code § 10-301.1 (2019)
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(a) Any sum of money received by a vendor or builder in connection with the sale and purchase of a new single–family residential unit shall be held in trust for the benefit of the purchaser.
(b) Any payments made for labor or material in connection with the construction of the residential unit shall be consistent with the trust obligation required under subsection (a) of this section.
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