Real Estate - Real Estate Brokerage Services and Termination of Residential Real Estate Contracts (The Anthony Moorman Act)
What this bill does
Requiring a real estate broker or an escrow agent, if a purchaser terminates a certain transaction under certain circumstances, to distribute trust money to the purchaser within 30 days after a certain written notice of the termination is sent; requiring a holder of trust money who makes a certain distribution to notify the seller and purchaser of the distribution within a certain period of time; establishing that a holder of trust money may not be held liable for a certain decision to distribute the trust money; etc.
Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.
Testimony (6)
MGA witness list| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Davis, Wayne | United Real Estate Executives | Oral |
| FAV | Hayes, Antonio | Individual | Written (PDF) |
| FAV | Senator Hayes, Senator Hayeslegislator | Individual | Oral |
| UNF | O'Connell, William | MSBA Real Property Section Counsel | Written (PDF) |
| FWA | Schuller, Mary Clare | Maryland Land Title Association | Written (PDF) |
| FWA | Castelli, Williamlobbyist | Individual | Oral + Written (PDF) |