Maryland Code, Real Property § 10-101

(a) In this subtitle the following words have the meanings indicated unless otherwise apparent from context.

(b) “Down payment” means the payment made by the purchaser to the vendor on account of the purchase price at or before the time of the execution of a land installment contract.

(c) “Land installment contract” means a legally binding executory agreement under which:

(d) “Property” means improved property or improved chattels real, occupied or to be occupied by the purchaser as a dwelling, or an unimproved, subdivided lot or lots intended to be improved for residential purposes.

(e) “Purchaser” means a natural person who purchases property subject to a land installment contract, or any legal successor in interest to him regardless of whether the person has entered into an agreement as to extension, default, or refund.

(f) “Vendor” means any person who makes a sale of property by means of a land installment contract.