Residential Real Estate Transactions – Escrow Agents and Trust Money
Sponsor: Marvin E. Holmes, Jr. (District 23)Committee: Environment and TransportationSubject: Real PropertyStatus: Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 590 (as of Dec 1, 2021)
What this bill does
Official synopsis
Altering the definitions of 'escrow agent' and 'trust money' for purposes of a requirement that an escrow agent enter into a certain agreement with the seller and the buyer of residential real estate when the escrow agent agrees to hold trust money; defining 'residential real estate' as real property improved by four or fewer single-family dwellings intended for human habitation and unimproved real property zoned for residential use; etc.
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Testimony (7)
MGA witness listFAV 7Favorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | O'Connell, William | MSBA Real Property Section Counsel | Oral + Written (PDF) |
| FAV | Mitchell, Susan | Maryland REALTORS | Written (PDF) |
| FAV | O’Connell, William | Maryland State Bar Association | Written (PDF) |
| FAV | Castelli, Williamlobbyist | Individual | Written (PDF) |
| FAV | Delegate Holmes, Delegate Holmeslegislator | Individual | Oral |
| FAV | Delegate Holmes, Delegate Holmeslegislator | Individual | Position only |
| FAV | Jones, Lisalobbyist | Individual | Written (PDF) |
Organizations on record
Registered lobbyists who testified
FAVCastelli, WilliamRegistered for: ASC Engineered Solutions; Berkshire Hathaway Energy GT&S, LLC; Board of County Commissioners of Allegany County, MD; Brown Advisory; Cable Telecommunications Association of Maryland, Delaware and D.C., Inc.; Colonial Pipeline Company…
FAVJones, LisaRegistered for: Aligned Data Centers; American Academy of Anesthesiology Assistants, Inc.; Associated Black Charities; Associated Builders & Contractors; Association of Social Work Boards (ASWB) on behalf of National Strategies, LLC; Atmosphere Data Centers LLC…