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§ 10-301.1. Money held in trust for benefit of purchasers

West's Annotated Code of MarylandReal PropertyEffective: July 1, 2011

West's Annotated Code of Maryland
Real Property (Refs & Annos)
Title 10. Sales of Property (Refs & Annos)
Subtitle 3. Deposits on New Homes (Refs & Annos)
Effective: July 1, 2011
MD Code, Real Property, § 10-301.1
§ 10-301.1. Money held in trust for benefit of purchasers
Currentness
In general
(a) Any sum of money received by a vendor or builder in connection with the sale and purchase of a new single-family residential unit shall be held in trust for the benefit of the purchaser.
Payments consistent with trust obligations
(b) Any payments made for labor or material in connection with the construction of the residential unit shall be consistent with the trust obligation required under subsection (a) of this section.

Credits

Added by Acts 2011, c. 450, § 1, eff. July 1, 2011; Acts 2011, c. 451, § 1, eff. July 1, 2011.
MD Code, Real Property, § 10-301.1, MD REAL PROP § 10-301.1
Current through legislation effective through April 25, 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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