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RULE 14-216. PROCEEDS OF SALE

West's Annotated Code of MarylandMaryland Rules

West's Annotated Code of Maryland
Maryland Rules
Title 14. Sales of Property
Chapter 200. Foreclosure of Lien Instruments (Refs & Annos)
MD Rules, Rule 14-216
RULE 14-216. PROCEEDS OF SALE
(a) Distribution of Surplus. At any time after a sale of property and before final ratification of the auditor's account, any person claiming an interest in the property or in the proceeds of the sale of the property may file an application for the payment of that person's claim from the surplus proceeds of the sale. The court shall order distribution of the surplus equitably among the claimants.
(b) Deficiency Judgment. At any time within three years after the final ratification of the auditor's report, a secured party or any appropriate party in interest may file a motion for a deficiency judgment if the proceeds of the sale, after deducting all costs and expenses allowed by the court, are insufficient to satisfy the debt and accrued interest. The motion shall be served in accordance with Rule 2-121. It shall be accompanied by a notice advising the person that any response to the motion must be filed within 30 days after being served or within any applicable longer time prescribed by Rule 2-321 (b) for answering a complaint. A copy of Rule 2-321 (b) shall be attached to the notice.
Source: This Rule is derived in part from the 2008 version of former Rule 14-208 and is in part new.

Credits

[Adopted Feb. 10, 2009, eff. May 1, 2009. Amended Dec. 13, 2016, eff. Apr. 1, 2017.]
MD Rules, Rule 14-216, MD R PROP SALES Rule 14-216
Current with amendments received through May 1, 2024. Some sections may be more current, see credits for details.
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