RULE 3-722. RECEIVERS
West's Annotated Code of MarylandMaryland Rules
MD Rules, Rule 3-722
RULE 3-722. RECEIVERS
Cross reference: For the power of the District Court to appoint a receiver, see Code, Courts Article, §§ 4-401(8) and 4-402(b); Code, Real Property Article, § 14-120; and Baltimore City Building Code, 2011 Edition, § 121.
(1) Notice by Mail. Upon filing the Report of Sale, the receiver shall send a notice by first class mail and certified mail to the last known address of: the mortgagor; the present record owner of the property; and the holder of a recorded subordinate mortgage, deed of trust, or other recorded or filed subordinate interest in the property, including a judgment. The notice shall identify the property and state that the sale of the property has been completed and will be final unless cause to the contrary is shown within 30 days after the date of the notice. The receiver shall file proof of mailing with the court. This notice shall be in lieu of notice and publication by the clerk pursuant to Rule 14-305(c).
(g) Ratification. The court shall ratify the sale if (1) the time for filing exceptions pursuant to subsection (f)(3) of this Rule has expired and exceptions to the sale either were not filed or were filed but overruled, and (2) the court is satisfied that the sale was fairly and properly made. If the court is not satisfied that the sale was fairly and properly made, it may enter any order that it deems appropriate.
(h) Conveyance to Purchaser. Promptly after ratification of the sale and payment of the purchase price, the receiver shall convey the property to the purchaser and, unless the property is located entirely in Baltimore City, cause to be recorded among the land records of each county where any part of the property is located a certified copy of the docket entries and the final order of ratification.
(i) Accounting. Promptly after conveying the property, the receiver shall file an accounting. The receiver shall send notice of the accounting to the persons listed in subsection (f)(1) of this Rule, who shall have 30 days after the date of the notice to file exceptions. The court may decide exceptions without a hearing unless a hearing is requested.
(k) Removal of Receiver. Upon petition of a person having an interest in the property or on the court's own initiative, the court may remove a receiver for good cause shown. A petition shall state the reasons for the requested removal and may include a request for the appointment of a successor receiver. The petitioner shall send a copy of the petition to the receiver and to each person entitled to notice under subsection (f)(1) of this Rule. The court may grant or deny the relief requested without a hearing, unless a hearing is requested by the receiver or other interested person with 10 days after service of the petition.
(l) Resignation of Receiver. A petition to resign shall state the reasons for the proposed resignation and may include a request for the appointment of a successor receiver. The receiver shall file with the petition a report and accounting from the date the receiver was appointed and shall certify that a copy of the petition, together with a copy of the report and accounting, was mailed to each person entitled to notice under subsection (f)(1) of this Rule. The filing of a petition to resign does not terminate the appointment until the resignation has been approved by the court. The court may grant or deny the requested relief with or without a hearing.
Source: This Rule is new.
[Adopted Dec. 16, 1999, eff. Jan. 1, 2000. Amended Nov. 1, 2012, eff. Jan. 1, 2013.]
MD Rules, Rule 3-722, MD R RCP DIST CT Rule 3-722
Current with amendments received through August 1, 2020.
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