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§ 17-607. Use of business as condition to real estate transactions

West's Annotated Code of MarylandBusiness Occupations and Professions

West's Annotated Code of Maryland
Business Occupations and Professions
Title 17. Real Estate Brokers (Refs & Annos)
Subtitle 6. Prohibited Acts; Penalties (Refs & Annos)
MD Code, Business Occupations & Professions, § 17-607
§ 17-607. Use of business as condition to real estate transactions
Currentness
In general
(a) Except as otherwise provided in subsection (b) of this section, in a real estate transaction involving a single-family dwelling, a real estate broker, an associate real estate broker, a real estate salesperson, or a lawyer acting as a real estate broker may not require a buyer, as a condition of settlement, to employ a particular:
(1) title insurance company;
(2) settlement company;
(3) escrow company;
(4) mortgage lender, or financial institution as defined in the Financial Institutions Article; or
(5) title lawyer.
Owner financing offers
(b) A seller may not be prohibited from offering owner financing as a condition of settlement.

Credits

Added by Acts 1989, c. 3, § 1, eff. Oct. 1, 1989. Amended by Acts 1991, c. 527. Renumbered from Business Occupations and Professions § 16-607 by Acts 1994, c. 3, § 13, eff. Feb. 28, 1994.
Formerly Art. 56A, § 4-607.
MD Code, Business Occupations & Professions, § 17-607, MD BUS OCCUP & PROF § 17-607
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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