Home Table of Contents

§ 12-121. Inspection fees

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 12. Credit Regulations
Subtitle 1. Interest and Usury (Refs & Annos)
MD Code, Commercial Law, § 12-121
§ 12-121. Inspection fees
Currentness
(a) In this section, the term “lender's inspection fee” means a fee imposed by a lender to pay for a visual inspection of real property.
(b) Except as provided in subsection (c) of this section, a lender may not impose a lender's inspection fee in connection with a loan secured by residential real property.
(c) A lender's inspection fee may be charged if the inspection is needed to ascertain completion of:
(1) Construction of a new home; or
(2) Repairs, alterations, or other work required by the lender.
(d) This section does not apply to an appraisal of the value of real property by a lender or to fees imposed in connection with an appraisal.

Credits

Added by Acts 1986, c. 628, § 1, eff. July 1, 1986.
MD Code, Commercial Law, § 12-121, MD COML § 12-121
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.
End of Document