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§ 7-104. Priority of mortgage or deed of trust

West's Annotated Code of MarylandReal Property

West's Annotated Code of Maryland
Real Property (Refs & Annos)
Title 7. Mortgages, Deeds of Trust, and Vendor's Liens (Refs & Annos)
Subtitle 1. Mortgages and Deeds of Trust (Refs & Annos)
MD Code, Real Property, § 7-104
§ 7-104. Priority of mortgage or deed of trust
If property is sold and granted, and as part of the same transaction the purchaser gives a mortgage or deed of trust to secure total or partial payment of the purchase money, the mortgage or deed of trust shall be preferred to any previous judgment or decree for the payment of money which is obtained against the purchaser if it recites that the sum received is all or part of the purchase money of the property or otherwise recites that it is a purchase money mortgage or deed of trust. This section is applicable regardless of whether the mortgage or deed of trust is given to the vendor of the property or to a third party who advances all or part of the purchase money.

Credits

Added by Acts 1974, c. 12, § 2, eff. July 1, 1974. Amended by Acts 1997, c. 633, § 1, eff. Oct. 1, 1997.
Formerly Art. 21, § 7-104.
MD Code, Real Property, § 7-104, MD REAL PROP § 7-104
Current through legislation effective through June 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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