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§ 5-102. Action on specialties

West's Annotated Code of MarylandCourts and Judicial ProceedingsEffective: July 1, 2014

West's Annotated Code of Maryland
Courts and Judicial Proceedings
Title 5. Limitations, Prohibited Actions, and Immunities (Refs & Annos)
Subtitle 1. Limitations (Refs & Annos)
Effective: July 1, 2014
MD Code, Courts and Judicial Proceedings, § 5-102
§ 5-102. Action on specialties
Currentness
In general
(a) An action on one of the following specialties shall be filed within 12 years after the cause of action accrues, or within 12 years from the date of the death of the last to die of the principal debtor or creditor, whichever is sooner:
(1) Promissory note or other instrument under seal;
(2) Bond except a public officer's bond;
(3) Judgment;
(4) Recognizance;
(5) Contract under seal; or
(6) Any other specialty.
Payment of principal or interest on specialty
(b) A payment of principal or interest on a specialty suspends the operation of this section as to the specialty for three years after the date of payment.
Specialties taken for use of the State
(c) This section does not apply to:
(1) A specialty taken for the use of the State; or
(2) A deed of trust, mortgage, or promissory note that has been signed under seal and secures or is secured by owner-occupied residential property, as defined in § 7-105.1 of the Real Property Article.

Credits

Added by Acts 1973, 1st Sp. Sess., c. 2, § 1, eff. Jan. 1, 1974. Amended by Acts 2014, c. 592, § 1, eff. July 1, 2014.
Formerly Art. 57, § 3.
MD Code, Courts and Judicial Proceedings, § 5-102, MD CTS & JUD PRO § 5-102
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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