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Maryland Code, Real Property § 10-107

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Every vendor under a land installment contract shall mail or deliver a statement to the purchaser:

(1) When 40 percent of the original cash price has been paid; and

(2)(i) Annually within 30 days of January 1; or

(ii) On demand of the purchaser no more than twice a year.

(b) The statement shall show:

(1) The total amount paid for any ground rent, insurance, taxes, and any other periodic charge;

(2) The amount credited to principal and interest; and

(3) The balance due.

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Cite this article: FindLaw.com - Maryland Code, Real Property § 10-107 - last updated January 01, 2025 | https://codes.findlaw.com/md/real-property/md-code-real-prop-sect-10-107/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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