Condominiums and Homeowners Associations - Residential Property Foreclosure Sales - Purchaser Requirements
What this bill does
Requiring a purchaser of residential property in a condominium or homeowners association at a foreclosure sale to immediately record an instrument transferring the residential property and requiring the purchaser to immediately begin payment of regular assessments until the title to the residential property is recorded by a new owner; and authorizing the governing body of a condominium or homeowners association to charge the purchaser a fine of up to $500 per month if the regular assessments are not paid.
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 (4)
MGA witness list| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Delegate Holmes, Delegate Holmeslegislator | Individual | Oral |
| UNF | O'Connell, William | MSBA Real Property Section Counsel | Written (PDF) |
| UNF | Enten, Robert | Md Bankers Assoc | Oral |
| FWA | Straughn, Karen | Consumer Protection Division of the Office of the Attorney General | Written (PDF) |