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SB 664

Did not advanceCrossfile HB 480
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Real Property - Land Installment Contracts - Requirements and Vendor Duties and Limitations

Sponsor: Nick Charles (District 25)Committee: Judicial ProceedingsSubject: Real PropertyStatus: Hearing 2/16 at 10:00 a.m. (as of Nov 13, 2024)

What this bill does

Official synopsis

Requiring the vendor to provide a purchaser under a land installment contract with the results of a title search for the property at or before the time the purchaser signs the contract; requiring the inclusion of certain notice, terms, and recitals in a land installment contract formed in the State; altering, from 40% to 20%, the percentage of the original cash price of a land installment contract that the purchaser must pay before the purchaser may demand a grant of the deed to the property to the purchaser; etc.

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Testimony (4)

MGA witness list
FAV 4Favorable
PositionWitnessOrganizationTestimony
FAVWilpone-Welborn, KiraConsumer Protection Division of the Maryland Office of the Attorney GeneralWritten (PDF)
FAVCastelli, WilliamlobbyistRifkin, Weiner, Livingston LLCWritten (PDF)
FAVCharles, Senator NickIndividualWritten (PDF)
FAVSenator Charles, Senator CharleslegislatorIndividualOral

Organizations on record

Registered lobbyists who testified

FAVCastelli, WilliamRifkin, Weiner, Livingston LLCRegistered 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