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<subtitle article="grp" title_number="10" subtitle_number="7" title_name="Sales of Property" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
  <section article="grp" article_name="Real Property" number="10-701" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <text>In Prince George’s County, a contract of sale of real property creating a subdivision for which a plat of subdivision has not been recorded, shall contain the following notice:</text>
    <text>“The subdivision of land to be created by this transaction has not been approved by the Maryland–National Capital Park and Planning Commission, the Maryland Department of Health, or any other agency of the State or county. The approval of one or more of these agencies may be necessary before any building permit is issued.”</text>
  </section>
  <section article="grp" article_name="Real Property" number="10-702" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <text>In this section, “latent defects” means material defects in real property or an improvement to real property that:</text>
      <level label="1">
        <text>A purchaser would not reasonably be expected to ascertain or observe by a careful visual inspection of the real property; and</text>
      </level>
      <level label="2">
        <text>Would pose a direct threat to the health or safety of:</text>
        <level label="i">
          <text>The purchaser; or</text>
        </level>
        <level label="ii">
          <text>An occupant of the real property, including a tenant or invitee of the purchaser.</text>
        </level>
      </level>
    </level>
    <level label="b">
      <level label="1">
        <text>This section applies only to single family residential real property improved by four or fewer single family units.</text>
      </level>
      <level label="2">
        <text>This section does not apply to:</text>
        <level label="i">
          <text>The initial sale of single family residential real property:</text>
          <level label="1">
            <text>That has never been occupied; or</text>
          </level>
          <level label="2">
            <text>For which a certificate of occupancy has been issued within 1 year before the vendor and purchaser enter into a contract of sale;</text>
          </level>
        </level>
        <level label="ii">
          <text>A transfer that is exempt from the transfer tax under § 13-207 of the Tax - Property Article, except land installment contracts of sale under § 13-207(a)(11) of the Tax - Property Article and options to purchase real property under § 13-207(a)(12) of the Tax - Property Article;</text>
        </level>
        <level label="iii">
          <text>A sale by a lender or an affiliate or subsidiary of a lender that acquired the real property by foreclosure or deed in lieu of foreclosure;</text>
        </level>
        <level label="iv">
          <text>A sheriff's sale, tax sale, or sale by foreclosure, partition, or by court appointed trustee;</text>
        </level>
        <level label="v">
          <text>A transfer by a fiduciary in the course of the administration of a decedent's estate, guardianship, conservatorship, or trust;</text>
        </level>
        <level label="vi">
          <text>A transfer of single family residential real property to be converted by the buyer into a use other than residential use or to be demolished; or</text>
        </level>
        <level label="vii">
          <text>A sale of unimproved real property.</text>
        </level>
      </level>
    </level>
    <level label="c">
      <level label="1">
        <text>A vendor of single family residential real property shall complete and deliver to each purchaser:</text>
        <level label="i">
          <text>A written residential property condition disclosure statement on a form provided by the State Real Estate Commission; or</text>
        </level>
        <level label="ii">
          <text>A written residential property disclaimer statement on a form provided by the State Real Estate Commission.</text>
        </level>
      </level>
      <level label="2">
        <text>The State Real Estate Commission shall develop by regulation a single standardized form that includes the residential property condition disclosure and disclaimer statements required by this subsection.</text>
      </level>
    </level>
    <level label="d">
      <text>The residential property disclaimer statement shall:</text>
      <level label="1">
        <text>Disclose any latent defects of which the vendor has actual knowledge that a purchaser would not reasonably be expected to ascertain by a careful visual inspection and that would pose a direct threat to the health or safety of the purchaser or an occupant; and</text>
      </level>
      <level label="2">
        <text>State that:</text>
        <level label="i">
          <text>Except for latent defects disclosed under item (1) of this subsection, the vendor makes no representations or warranties as to the condition of the real property or any improvements on the real property; and</text>
        </level>
        <level label="ii">
          <text>The purchaser will be receiving the real property “as is”, with all defects, including latent defects, that may exist, except as otherwise provided in the contract of sale of the real property.</text>
        </level>
      </level>
    </level>
    <level label="e">
      <level label="1">
        <text>The residential property disclosure statement shall disclose those items that, to carry out the provisions of this section, the State Real Estate Commission requires to be disclosed about the physical condition of the property.</text>
      </level>
      <level label="2">
        <text>The disclosure form shall include a list of defects, including latent defects, or information of which the vendor has actual knowledge in relation to the following:</text>
        <level label="i">
          <text>Water and sewer systems, including the source of household water, water treatment systems, and sprinkler systems;</text>
        </level>
        <level label="ii">
          <text>Insulation;</text>
        </level>
        <level label="iii">
          <text>Structural systems, including the roof, walls, floors, foundation, and any basement;</text>
        </level>
        <level label="iv">
          <text>Plumbing, electrical, heating, and air conditioning systems;</text>
        </level>
        <level label="v">
          <text>Infestation of wood–destroying insects;</text>
        </level>
        <level label="vi">
          <text>Land use matters;</text>
        </level>
        <level label="vii">
          <text>Hazardous or regulated materials, including asbestos, lead–based paint, radon, underground storage tanks, and licensed landfills;</text>
        </level>
        <level label="viii">
          <text>Any other material defects of which the vendor has actual knowledge;</text>
        </level>
        <level label="ix">
          <text>Whether the smoke alarms:</text>
          <level label="1">
            <text>Will provide an alarm in the event of a power outage;</text>
          </level>
          <level label="2">
            <text>Are over 10 years old; and</text>
          </level>
          <level label="3">
            <text>If battery operated, are sealed, tamper resistant units incorporating a silence/hush button and use long–life batteries as required in all Maryland homes by 2018; and</text>
          </level>
        </level>
        <level label="x">
          <text>If the property relies on the combustion of a fossil fuel for heat, ventilation, hot water, or clothes dryer operation, whether a carbon monoxide alarm is installed on the property.</text>
        </level>
      </level>
      <level label="3">
        <text>The disclosure form shall contain:</text>
        <level label="i">
          <text>A notice to prospective purchasers and vendors that the prospective purchaser or vendor may wish to obtain professional advice about or an inspection of the property;</text>
        </level>
        <level label="ii">
          <text>A notice to prospective purchasers that disclosure by the seller is not a substitute for an inspection by an independent home inspection company, and that the purchaser may wish to obtain such an inspection;</text>
        </level>
        <level label="iii">
          <text>A notice to purchasers that the information contained in the disclosure statement is the representation of the vendor and is not the representation of the real estate broker or salesperson, if any; and</text>
        </level>
        <level label="iv">
          <text>A notice to purchasers that the information contained in the disclosure statement is not a warranty by the vendor as to:</text>
          <level label="1">
            <text>The condition of the property of which the vendor has no actual knowledge; or</text>
          </level>
          <level label="2">
            <text>Other conditions of which the vendor has no actual knowledge.</text>
          </level>
        </level>
      </level>
      <level label="4">
        <text>The vendor is not required to undertake or provide an independent investigation or inspection of the property in order to make the disclosures required by this section.</text>
      </level>
    </level>
    <level label="f">
      <level label="1">
        <text>Except as provided in paragraphs (2) and (3) of this subsection, the vendor shall deliver the completed disclosure or disclaimer statement required by this section to the purchaser on or before entering into a contract of sale by the vendor and the purchaser.</text>
      </level>
      <level label="2">
        <text>The disclosure or disclaimer statement shall be delivered to each purchaser before the execution of the contract of sale by the purchaser in the case of a land installment contract, as defined in § 10-101 of this title.</text>
      </level>
      <level label="3">
        <text>The disclosure or disclaimer statement shall be delivered to each purchaser before the execution by the purchaser of an option to purchase agreement or a lease agreement containing an option to purchase provision.</text>
      </level>
      <level label="4">
        <text>At the time the disclosure or disclaimer statement is delivered, each purchaser shall date and sign a written acknowledgment of receipt, which shall be included in or attached to the contract of sale.</text>
      </level>
    </level>
    <level label="g">
      <text>A purchaser who receives the disclosure or disclaimer statement on or before entering into the contract of sale does not have the right to rescind the contract of sale based upon the information contained in the statement.</text>
    </level>
    <level label="h">
      <level label="1">
        <text>A purchaser who does not receive the disclosure or disclaimer statement on or before entering into the contract of sale has the unconditional right, upon written notice to the vendor or vendor’s agent:</text>
        <level label="i">
          <text>To rescind the contract of sale at any time before the receipt of the disclosure or disclaimer statement or within 5 days following receipt of the disclosure or disclaimer statement; and</text>
        </level>
        <level label="ii">
          <text>To the immediate return of any deposits made on account of the contract.</text>
        </level>
      </level>
      <level label="2">
        <text>A purchaser’s right to rescind the contract of sale under this subsection terminates if not exercised:</text>
        <level label="i">
          <text>Before making a written application to a lender for a mortgage loan, if the lender discloses in writing at or before the time application is made that the right to rescind terminates on submission of the application; or</text>
        </level>
        <level label="ii">
          <text>Within 5 days following receipt of a written disclosure from a lender who has received the purchaser’s application for a mortgage loan, if the lender’s disclosure states that the purchaser’s right to rescind terminates at the end of that 5–day period.</text>
        </level>
      </level>
      <level label="3">
        <text>The return of any deposits held in trust by a licensed real estate broker to a purchaser under this subsection shall comply with the procedures set forth in § 17–505 of the Business Occupations and Professions Article.</text>
      </level>
    </level>
    <level label="i">
      <level label="1">
        <text>A disclosure statement made under this section does not constitute a warranty by the vendor as to:</text>
        <level label="i">
          <text>The condition of the property of which the vendor has no actual knowledge; or</text>
        </level>
        <level label="ii">
          <text>Other conditions of which the vendor has no actual knowledge.</text>
        </level>
      </level>
      <level label="2">
        <text>A vendor is not liable for an error, inaccuracy, or omission in a disclosure statement made under this section if the error, inaccuracy, or omission was based upon information that was:</text>
        <level label="i">
          <text>Not within the actual knowledge of the vendor;</text>
        </level>
        <level label="ii">
          <text>Provided to the vendor by a unit or instrumentality of the State government or of a political subdivision; or</text>
        </level>
        <level label="iii">
          <text>Provided to the vendor by a report or opinion prepared by a licensed engineer, land surveyor, geologist, wood-destroying insect control expert, contractor, or other home inspection expert, dealing with matters within the scope of the professional's license or expertise.</text>
        </level>
      </level>
    </level>
    <level label="j">
      <level label="1">
        <text>A report or opinion prepared by an expert shall satisfy the requirement of subsection (i)(2)(iii) of this section if the information is provided to the vendor pursuant to a written or oral request for the information.</text>
      </level>
      <level label="2">
        <text>In responding to a request for information, the reporting party:</text>
        <level label="i">
          <text>May indicate, in writing, an understanding that the information provided will be used in fulfilling the requirements of this section; and</text>
        </level>
        <level label="ii">
          <text>If so indicating, shall indicate the required disclosures, or parts of required disclosures, to which the information being provided is applicable.</text>
        </level>
      </level>
      <level label="3">
        <text>If the reporting party provides the statement under paragraph (2)(ii) of this subsection, the reporting party is not responsible for any items of information, or parts of items, other than those expressly set forth in the statement.</text>
      </level>
    </level>
    <level label="k">
      <level label="1">
        <text>The rights of a purchaser under this section may not be waived in the contract of sale and any attempted waiver is void.</text>
      </level>
      <level label="2">
        <text>Any rights of the purchaser to terminate the contract provided by this section are waived conclusively if not exercised before:</text>
        <level label="i">
          <text>Closing or occupancy by the purchaser, whichever occurs first, in the event of a sale; or</text>
        </level>
        <level label="ii">
          <text>Occupancy, in the event of a lease with option to purchase.</text>
        </level>
      </level>
    </level>
    <level label="l">
      <text>Each contract of sale shall include a conspicuous notice advising the purchaser of the purchaser's rights as set forth in this section.</text>
    </level>
    <level label="m">
      <level label="1">
        <text>The real estate licensee representing a vendor of residential real property as the listing broker has a duty to inform the vendor of the vendor's rights and obligations under this section.</text>
      </level>
      <level label="2">
        <text>The real estate licensee representing a purchaser of residential real property, or, if the purchaser is not represented by a licensee, the real estate licensee representing an owner of residential real estate and dealing with the purchaser, has a duty to inform the purchaser of the purchaser's rights and obligations under this section.</text>
      </level>
      <level label="3">
        <text>If a real estate licensee performs the duties specified in this subsection, the licensee:</text>
        <level label="i">
          <text>Shall have no further duties under this section to the parties to a residential real estate transaction; and</text>
        </level>
        <level label="ii">
          <text>Is not liable to any party to a residential real estate transaction for a violation of this section.</text>
        </level>
      </level>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-703" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <text>This section applies only to single family residential real property in Anne Arundel County improved by four or fewer single family units.</text>
    </level>
    <level label="b">
      <text>All contracts of sale for residential real property shall contain the following notice:</text>
      <text>“The buyer fully understands that in order to become more fully informed of the current and future land–use plans, facility plans, public works plans, school plans, or other plans affecting the property or area, the buyer should consult the appropriate county agency or county Internet website for information regarding these plans.”</text>
    </level>
    <level label="c">
      <text>All local laws requiring disclosure to home buyers of information substantially similar to subsection (b) of this section prevail over the requirements of this section.</text>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-704" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <text>In Frederick County, the vendor of a property that is subject to a tax or fee of a special taxing district as authorized in § 21–409 of the Local Government Article or by a community development authority as authorized in § 2–7–125(b) of the Public Local Laws of Frederick County may not enforce a contract for the sale of the property unless within 20 calendar days after entering into the contract, the purchaser of the property is provided the following information in writing:</text>
      <level label="1">
        <text>In conspicuous, bold, and underscored type, substantially the same as the following clause:</text>
        <text>“This sale is subject to a tax or fee of a (special taxing district or community development authority). State law requires that the seller disclose to you at or before the time the contract is entered into, or within 20 calendar days after entering into the contract, certain information concerning the property you are purchasing. The content of the information to be disclosed is set forth in § 10–704 of the Real Property Article of the Maryland Annotated Code and includes the amount of the current annual tax or fee of the (special taxing district or community development authority) for the property, the number of years remaining for the tax or fee of the (special taxing district or community development authority), and a statement of whether any tax or fee of the (special taxing district or community development authority) against the property is delinquent.”;</text>
      </level>
      <level label="2">
        <text>The amount of the current annual tax or fee of the special taxing district or community development authority for the property;</text>
      </level>
      <level label="3">
        <text>The number of years remaining for the tax or fee of the special taxing district or community development authority on the property; and</text>
      </level>
      <level label="4">
        <text>Whether any tax or fee of the special taxing district or community development authority against the property is delinquent.</text>
      </level>
    </level>
    <level label="b">
      <text>The requirements of subsection (a) of this section shall be deemed fulfilled if the information required to be provided to the purchaser is done so in writing, in a clear and concise manner.</text>
    </level>
    <level label="c">
      <text>The statement required under subsection (a)(1) of this section may be provided to the purchaser by the inclusion of the statement as a clause in the contract for sale of the property.</text>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-705" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <level label="1">
        <text>In this section the following words have the meanings indicated.</text>
      </level>
      <level label="2">
        <text>“Conservation easement” means an easement, covenant, restriction, or condition on real property, including an amendment to an easement, covenant, restriction, or condition, as provided for in § 2–118 of this article that is:</text>
        <level label="i">
          <text>Owned by:</text>
          <level label="1">
            <text>The Maryland Environmental Trust;</text>
          </level>
          <level label="2">
            <text>The Maryland Historical Trust;</text>
          </level>
          <level label="3">
            <text>The Maryland Agricultural Land Preservation Foundation;</text>
          </level>
          <level label="4">
            <text>The Maryland Department of Natural Resources;</text>
          </level>
          <level label="5">
            <text>A county or municipal corporation and is funded by the Maryland Department of Natural Resources, the Rural Legacy Program, or a local agricultural preservation program; or</text>
          </level>
          <level label="6">
            <text>A land trust; or</text>
          </level>
        </level>
        <level label="ii">
          <text>Required by a permit issued by the Department of the Environment.</text>
        </level>
      </level>
      <level label="3">
        <text>“Land trust” means an organization that:</text>
        <level label="i">
          <text>Is a qualified organization under § 170(h)(3) of the Internal Revenue Code and regulations adopted under that section; and</text>
        </level>
        <level label="ii">
          <text>Has executed a cooperative agreement with the Maryland Environmental Trust.</text>
        </level>
      </level>
    </level>
    <level label="b">
      <level label="1">
        <text>This section applies to the sale of property encumbered by a conservation easement.</text>
      </level>
      <level label="2">
        <text>This section does not apply to the sale of property in an action to foreclose a mortgage or deed of trust.</text>
      </level>
    </level>
    <level label="c">
      <text>A vendor of real property encumbered by one or more conservation easements shall, on or before entering into a contract for the sale of the property, deliver to each purchaser:</text>
      <level label="1">
        <text>The notice described in subsection (d) of this section; and</text>
      </level>
      <level label="2">
        <text>A copy of all conservation easements encumbering the property.</text>
      </level>
    </level>
    <level label="d">
      <text>The notice required under subsection (c)(1) of this section shall be in a form substantially the same as the following:</text>
      <text>“This property is encumbered by one or more conservation easements or other restrictions limiting or affecting uses of the property. Maryland law requires that the vendor deliver to the purchaser copies of all conservation easements on or before the day the contract is entered into. The purchaser should review all conservation easements carefully to ascertain the purchaser’s rights, responsibilities, and obligations under each conservation easement, including any requirement that after the sale the purchaser must inform the owner of the conservation easement of the sale of the property.”.</text>
    </level>
    <level label="e">
      <level label="1">
        <text>A purchaser who receives the notice and copies of the easements required under subsection (c) of this section on or before entering into a contract of sale does not have the right to rescind the contract of sale based on the information received from the vendor.</text>
      </level>
      <level label="2">
        <text>A purchaser who does not receive the notice and copies of the easements required under subsection (c) of this section on or before entering into a contract of sale, on written notice to the vendor or the vendor’s agent:</text>
        <level label="i">
          <text>Has the unconditional right to rescind the contract at any time before, or within 5 days after, receipt of the notice and copies of the easements; and</text>
        </level>
        <level label="ii">
          <text>Is entitled to the immediate return of any deposits made in accordance with the contract.</text>
        </level>
      </level>
    </level>
    <level label="f">
      <level label="1">
        <text>Within 30 calendar days after a sale of property encumbered by a conservation easement, the purchaser shall notify the owner of a conservation easement of the sale.</text>
      </level>
      <level label="2">
        <text>The notification shall include, to the extent reasonably available:</text>
        <level label="i">
          <text>The name and address of the purchaser;</text>
        </level>
        <level label="ii">
          <text>The name of the vendor;</text>
        </level>
        <level label="iii">
          <text>The address of the property; and</text>
        </level>
        <level label="iv">
          <text>The date of the sale.</text>
        </level>
      </level>
    </level>
    <level label="g">
      <text>In satisfying the requirements of subsection (c) of this section, the vendor and purchaser shall be entitled to rely on the conservation easement recorded in the land records of the county where the property is located.</text>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-706" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <level label="1">
        <text>This section applies only to the sale of residential real property in Harford County.</text>
      </level>
      <level label="2">
        <text>This section does not apply to:</text>
        <level label="i">
          <text>A sale of property to a purchaser who does not intend to occupy the property; or</text>
        </level>
        <level label="ii">
          <text>A sale in an action to foreclose a mortgage, deed of trust, or other lien.</text>
        </level>
      </level>
    </level>
    <level label="b">
      <text>The vendor of property that is subject to a tax of a special taxing district as authorized in §§ 21–503, 21–504, and 21–519 through 21–523 of the Local Government Article may not enforce a contract for the sale of the property unless:</text>
      <level label="1">
        <text>The purchaser of the property is provided with the following information in writing:</text>
        <level label="i">
          <text>A description of the area included within the special taxing district;</text>
        </level>
        <level label="ii">
          <text>The maximum amount of bonds and other obligations to be issued with respect to the special taxing district;</text>
        </level>
        <level label="iii">
          <text>A description of the purposes for which the special taxing district was created, and for which the bonds or other obligations have been issued, including a description of any improvements;</text>
        </level>
        <level label="iv">
          <text>The amount of special taxes levied on the property for the most recent year or, if taxes were not levied on the property for the most recent year, a good–faith estimate of the annual tax that will be levied on the property;</text>
        </level>
        <level label="v">
          <text>The maximum amount of special taxes that may be levied on the property in a year;</text>
        </level>
        <level label="vi">
          <text>The projected time period over which any bonds or obligations issued in connection with the special taxing district are to be repaid; and</text>
        </level>
        <level label="vii">
          <text>A description of the purchaser’s right to fully prepay the special taxing district obligations; and</text>
        </level>
      </level>
      <level label="2">
        <text>The contract for the sale of the property contains a notice, written in conspicuous, bold, and underscored type, that is substantially the same as the following:</text>
        <text>“NOTICE REQUIRED BY MARYLAND LAW</text>
        <text>The property that is the subject of this contract is located within a special taxing district, which has been created for the purpose of financing or refinancing the costs related to certain infrastructure improvements within the taxing district. These costs will be repaid from the proceeds of special taxes collected from the owners of properties located within the special taxing district.</text>
        <text>State law requires that the seller disclose to you, at or before the time you enter into this contract, the following information: (1) a description of the area included within the special taxing district, (2) the maximum amount of bonds and other obligations to be issued with respect to the special taxing district, (3) a description of the purposes for which the special taxing district was created, and for which the bonds or other obligations have been issued, including a description of any infrastructure improvements, (4) the amount of special taxes levied on the property for the most recent year or, if taxes were not levied on the property for the most recent year, a good–faith estimate of the annual tax that will be levied on the property, (5) the maximum amount of special taxes that may be levied on the property in a year, (6) the projected time period over which any bonds or obligations issued in connection with the special taxing district are to be repaid, and (7) your right as the prospective owner of the property to fully prepay the special taxing district obligations with respect to the property.</text>
        <text>You have 7 calendar days from the date you receive the above information relating to the special taxing district to cancel this contract by sending a written notice of cancellation to the seller. You are not required to state a reason for canceling the contract. Upon cancellation of the contract, you are entitled to a refund of any deposit you may have made under this contract. </text>
        <text>A seller may not require that you waive your right to receive the information relating to the special taxing district or your right to cancel the contract within 7 calendar days of receipt of the information. A seller may not require that you close the sale under this contract within 7 calendar days from the date you receive the information relating to the special taxing district.</text>
        <text>State law provides that any seller who, in disclosing the information relating to the special taxing district, makes any false statement of a material fact or omits a material fact that, in light of the circumstances under which the statements were made, is necessary to make the statements not misleading is liable to the purchaser for damages proximately caused by the seller’s false or omitted statement. Any action for damages caused by the seller’s false statement or omission of a material fact must be brought within 1 year from the date of closing under this contract.</text>
        <text>You should carefully review the information relating to the special taxing district provided by the seller to familiarize yourself with your rights and obligations as a prospective owner of property located within the special taxing district.”</text>
      </level>
    </level>
    <level label="c">
      <level label="1">
        <text>The requirements of subsection (b)(1) of this section shall be deemed fulfilled if the information required to be provided to the purchaser is provided to the purchaser in writing, in a clear and concise manner.</text>
      </level>
      <level label="2">
        <text>A vendor may provide the purchaser with the information required under subsection (b)(1) of this section by providing the purchaser with a collection of documents if the documents convey the information required under subsection (b)(1) of this section in a clear and concise manner.</text>
      </level>
      <level label="3">
        <text>In satisfying the requirements of subsection (b)(1) of this section, the vendor may rely on any document that, in connection with the creation of the special taxing district, was filed by the owner of the property in the land records of the county in which the property is located.</text>
      </level>
    </level>
    <level label="d">
      <level label="1">
        <text>A purchaser under a contract for the sale of property that is subject to this section may cancel the contract within 7 calendar days of receiving the information under subsection (b)(1) of this section by delivering written notice of cancellation to the vendor.</text>
      </level>
      <level label="2">
        <text>Unless the purchaser consents to an earlier settlement date, the settlement of a contract for the sale of property that is subject to this section may not take place within 7 calendar days from the date the purchaser receives the information required under subsection (b)(1) of this section.</text>
      </level>
      <level label="3">
        <text>Notice under paragraph (1) of this subsection shall be delivered by:</text>
        <level label="i">
          <text>Hand–delivery; or</text>
        </level>
        <level label="ii">
          <text>First–class mail.</text>
        </level>
      </level>
      <level label="4">
        <text>On cancellation of a contract for the purchase of property under paragraph (1) of this subsection, the vendor shall refund to the purchaser any deposits paid by, or on behalf of, the purchaser under the canceled contract.</text>
      </level>
    </level>
    <level label="e">
      <level label="1">
        <text>Any vendor that, in providing the purchaser with the information required under subsection (b)(1) of this section, makes any false statement of a material fact or omits a material fact that, in light of the circumstances under which the statements were made, is necessary to make the statements not misleading is liable to the purchaser for damages proximately caused by the vendor’s false or omitted statement.</text>
      </level>
      <level label="2">
        <text>An action brought under paragraph (1) of this subsection must be brought within 1 year from the date of settlement of the contract of sale.</text>
      </level>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-707" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <level label="1">
        <text>This section applies only to the sale of residential real property in Cecil County.</text>
      </level>
      <level label="2">
        <text>This section does not apply to:</text>
        <level label="i">
          <text>A sale of property to a purchaser who does not intend to occupy the property; or</text>
        </level>
        <level label="ii">
          <text>A sale in an action to foreclose a mortgage, deed of trust, or other lien.</text>
        </level>
      </level>
    </level>
    <level label="b">
      <text>The vendor of property that is subject to a tax of a special taxing district as authorized in §§ 21–503, 21–504, and 21–519 through 21–523 of the Local Government Article may not enforce a contract for the sale of the property unless:</text>
      <level label="1">
        <text>The purchaser of the property is provided with the following information in writing on or before entering into the contract for the sale of the property:</text>
        <level label="i">
          <text>A description of the area included within the special taxing district;</text>
        </level>
        <level label="ii">
          <text>The maximum amount of bonds and other obligations to be issued with respect to the special taxing district;</text>
        </level>
        <level label="iii">
          <text>A description of the purposes for which the special taxing district was created, and for which the bonds or other obligations have been issued, including a description of any improvements;</text>
        </level>
        <level label="iv">
          <text>The amount of special taxes levied on the property for the most recent year or, if taxes were not levied on the property for the most recent year, a good–faith estimate of the annual tax that will be levied on the property;</text>
        </level>
        <level label="v">
          <text>The maximum amount of special taxes that may be levied on the property in a year;</text>
        </level>
        <level label="vi">
          <text>The projected time period over which any bonds or obligations issued in connection with the special taxing district are to be repaid; and</text>
        </level>
        <level label="vii">
          <text>A description of the purchaser’s right to fully prepay the special taxing district obligations; and</text>
        </level>
      </level>
      <level label="2">
        <text>The contract for the sale of the property contains a notice, written in conspicuous, bold, and underscored type, that is substantially the same as the following:</text>
        <text>“NOTICE REQUIRED BY MARYLAND LAW</text>
        <text>The property that is the subject of this contract is located within a special taxing district, which has been created for the purpose of financing or refinancing the costs related to certain infrastructure improvements within the taxing district. These costs will be repaid from the proceeds of special taxes collected from the owners of properties located within the special taxing district.</text>
        <text>State law requires that the seller disclose to you, at or before the time you enter into this contract, the following information: (1) a description of the area included within the special taxing district, (2) the maximum amount of bonds and other obligations to be issued with respect to the special taxing district, (3) a description of the purposes for which the special taxing district was created, and for which the bonds or other obligations have been issued, including a description of any infrastructure improvements, (4) the amount of special taxes levied on the property for the most recent year or, if taxes were not levied on the property for the most recent year, a good–faith estimate of the annual tax that will be levied on the property, (5) the maximum amount of special taxes that may be levied on the property in a year, (6) the projected time period over which any bonds or obligations issued in connection with the special taxing district are to be repaid, and (7) your right as the prospective owner of the property to fully prepay the special taxing district obligations with respect to the property.</text>
        <text>You have 20 calendar days from the date you receive the above information relating to the special taxing district to cancel this contract by sending a written notice of cancellation to the seller. You are not required to state a reason for cancelling the contract. Upon cancellation of the contract, you are entitled to a refund of any deposit you may have made under this contract. </text>
        <text>A seller may not require that you waive your right to receive the information relating to the special taxing district or your right to cancel the contract within 20 calendar days of receipt of the information. A seller may not require that you close the sale under this contract within 20 calendar days from the date you receive the information relating to the special taxing district.</text>
        <text>State law provides that any seller who, in disclosing the information relating to the special taxing district, makes any false statement of a material fact or omits a material fact that, in light of the circumstances under which the statements were made, is necessary to make the statements not misleading is liable to the purchaser for damages proximately caused by the seller’s false or omitted statement. Any action for damages caused by the seller’s false statement or omission of a material fact must be brought within 1 year from the date of closing under this contract.</text>
        <text>You should carefully review the information relating to the special taxing district provided by the seller to familiarize yourself with your rights and obligations as a prospective owner of property located within the special taxing district.”</text>
      </level>
    </level>
    <level label="c">
      <level label="1">
        <text>The requirements of subsection (b)(1) of this section shall be deemed fulfilled if the information required to be provided to the purchaser is provided to the purchaser in writing, in a clear and concise manner.</text>
      </level>
      <level label="2">
        <text>A vendor may provide the purchaser with the information required under subsection (b)(1) of this section by providing the purchaser with a collection of documents if the documents convey the information required under subsection (b)(1) of this section in a clear and concise manner.</text>
      </level>
      <level label="3">
        <text>In satisfying the requirements of subsection (b)(1) of this section, the vendor may rely on any document that, in connection with the creation of the special taxing district, was filed by the owner of the property in the land records of the county in which the property is located.</text>
      </level>
    </level>
    <level label="d">
      <level label="1">
        <text>A purchaser under a contract for the sale of property that is subject to this section may cancel the contract within 20 calendar days of receiving the information under subsection (b)(1) of this section by delivering written notice of cancellation to the vendor.</text>
      </level>
      <level label="2">
        <text>Unless the purchaser consents to an earlier settlement date, the settlement of a contract for the sale of property that is subject to this section may not take place within 20 calendar days from the date the purchaser receives the information required under subsection (b)(1) of this section.</text>
      </level>
      <level label="3">
        <text>Notice under paragraph (1) of this subsection shall be delivered by:</text>
        <level label="i">
          <text>Hand–delivery; or</text>
        </level>
        <level label="ii">
          <text>First–class mail.</text>
        </level>
      </level>
      <level label="4">
        <text>On cancellation of a contract for the purchase of property under paragraph (1) of this subsection, the vendor shall refund to the purchaser any deposits paid by, or on behalf of, the purchaser under the cancelled contract.</text>
      </level>
    </level>
    <level label="e">
      <level label="1">
        <text>Any vendor that, in providing the purchaser with the information required under subsection (b)(1) of this section, makes any false statement of a material fact or omits a material fact that, in light of the circumstances under which the statements were made, is necessary to make the statements not misleading is liable to the purchaser for damages proximately caused by the vendor’s false or omitted statement.</text>
      </level>
      <level label="2">
        <text>An action brought under paragraph (1) of this subsection must be brought within 1 year from the date of settlement of the contract of sale.</text>
      </level>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-708" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <text>In this section, “transfer fee” means a charge payable on the transfer of an interest in real property or payable for the right to accept a transfer of an interest in real property.</text>
    </level>
    <level label="b">
      <text>This section does not apply to:</text>
      <level label="1">
        <text>An instrument conveying a fee simple interest in real property that provides for consideration paid by the purchaser to the vendor for the interest being transferred;</text>
      </level>
      <level label="2">
        <text>The payment of principal, interest, or fees under a mortgage loan agreement on the sale of property by the mortgagee;</text>
      </level>
      <level label="3">
        <text>A limited liability company, limited liability partnership, corporation, joint venture, or partnership agreement in which a member, shareholder, or partner contributes real property to the limited liability company, limited liability partnership, corporation, joint venture, or partnership agreement;</text>
      </level>
      <level label="4">
        <text>An agreement providing for a series of related transfers of a fee simple interest in real property if the agreement states the price of the transferred interest, any consideration exchanged, the name of the vendor, the name of the purchaser, and any other essential terms for each transfer of interest;</text>
      </level>
      <level label="5">
        <text>An affordable housing covenant, servitude, easement, condition, or restriction in a deed, declaration, land sale contract, loan agreement, promissory note, trust deed, mortgage, security agreement, or other instrument, including instruments executed by:</text>
        <level label="i">
          <text>A public body;</text>
        </level>
        <level label="ii">
          <text>An agency of the federal government;</text>
        </level>
        <level label="iii">
          <text>A corporation whose purposes include providing affordable housing for low–income and moderate–income households;</text>
        </level>
        <level label="iv">
          <text>A limited liability company with at least one member that is a corporation described under item (iii) of this paragraph;</text>
        </level>
        <level label="v">
          <text>A consumer housing cooperative; or</text>
        </level>
        <level label="vi">
          <text>A federally recognized Indian tribe;</text>
        </level>
      </level>
      <level label="6">
        <text>A fee required to be paid to:</text>
        <level label="i">
          <text>A homeowners association as defined in § 11B–101 of this article;</text>
        </level>
        <level label="ii">
          <text>A council of unit owners as defined in § 11–101 of this article;</text>
        </level>
        <level label="iii">
          <text>A managing entity of a timeshare plan as defined in § 11A–101 of this article;</text>
        </level>
        <level label="iv">
          <text>Any other owners association that is governed by recorded covenants, conditions, and restrictions; or</text>
        </level>
        <level label="v">
          <text>An agent for an association or managing entity described in this paragraph; or</text>
        </level>
      </level>
      <level label="7">
        <text>An agreement with a person licensed to provide real estate brokerage services under Title 17 of the Business Occupations and Professions Article to pay a commission to the licensee for the real estate brokerage services provided.</text>
      </level>
    </level>
    <level label="c">
      <level label="1">
        <text>A person who conveys a fee simple interest in real property may not record a covenant against the title to the real property for the payment of a transfer fee.</text>
      </level>
      <level label="2">
        <text>A covenant that requires the payment of a transfer fee on the conveyance of a fee simple interest in real property is void.</text>
      </level>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-709" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <text>A contract of sale for single family residential real property improved by four or fewer single family units shall contain notice of the right to appeal provided under § 14–502(a)(2) of the Tax – Property Article.</text>
    </level>
    <level label="b">
      <text>The notice required under subsection (a) of this section shall be in substantially the following form:</text>
      <text>“If any real property is transferred after January 1 and before the beginning of the next taxable year to a new owner, the new owner may submit a written appeal as to a value or classification on or before 60 days after the date of the transfer.”</text>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-710" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <text>In this section, “community amenity” includes:</text>
      <level label="1">
        <text>A country club;</text>
      </level>
      <level label="2">
        <text>A golf course;</text>
      </level>
      <level label="3">
        <text>A health club;</text>
      </level>
      <level label="4">
        <text>A park;</text>
      </level>
      <level label="5">
        <text>A swimming pool;</text>
      </level>
      <level label="6">
        <text>A tennis court; and</text>
      </level>
      <level label="7">
        <text>A walking trail.</text>
      </level>
    </level>
    <level label="b">
      <level label="1">
        <text>In Prince George’s County, a contract of sale for residential real property that includes an agreement by the home builder to provide a community amenity shall include a disclosure statement that:</text>
        <level label="i">
          <text>Identifies the community amenity provided in the contract of sale; and</text>
        </level>
        <level label="ii">
          <text>Specifies when the community amenity will be completed in accordance with a recreational facilities agreement recorded with the Prince George’s County Planning Department.</text>
        </level>
      </level>
      <level label="2">
        <text>The disclosure statement required under paragraph (1) of this subsection shall be:</text>
        <level label="i">
          <text>Dated and signed by the purchaser and the home builder; and</text>
        </level>
        <level label="ii">
          <text>Included in or attached to the contract of sale.</text>
        </level>
      </level>
      <level label="3">
        <text>A purchaser who does not receive the disclosure statement required under paragraph (1) of this subsection on or before entering into the contract of sale has an unconditional right, on written notice to the home builder, to rescind the contract of sale at any time:</text>
        <level label="i">
          <text>Before the receipt of the disclosure statement; or</text>
        </level>
        <level label="ii">
          <text>Within 5 days after receipt of the disclosure statement.</text>
        </level>
      </level>
    </level>
    <level label="c">
      <text>Any advertising for the sale of residential real property in a community development in Prince George’s County that will include a community amenity shall include disclosure of the requirements under this section.</text>
    </level>
    <level label="d">
      <text>In Prince George’s County, a home builder that does not make the community amenity available as provided in the contract of sale may be liable for breach of contract.</text>
    </level>
    <level label="e">
      <text>In Prince George’s County, a home builder shall make a copy of any recreational facilities agreement recorded with the Prince George’s County Planning Department available to prospective purchasers in the sales or management office of the community development.</text>
    </level>
    <level label="f">
      <text>In Prince George’s County, a home builder shall display the following information in the sales or management office of the community development in a location visible to prospective purchasers:</text>
      <level label="1">
        <text>The amenities listed in any recreational facilities agreement recorded with the Prince George’s County Planning Department;</text>
      </level>
      <level label="2">
        <text>A detailed site plan and the building permit number of each amenity listed in the recreational facilities agreement; and</text>
      </level>
      <level label="3">
        <text>The expected completion dates of each amenity as stated in the recreational facilities agreement.</text>
      </level>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-711" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <text>In this section, “zone of dewatering influence” means the area around a surface mine in karst terrain designated by the Department of the Environment under § 15–813 of the Environment Article.</text>
    </level>
    <level label="b">
      <text>This section applies only to the sale of a property located within Baltimore County, Carroll County, Frederick County, and Washington County.</text>
    </level>
    <level label="c">
      <text>A contract for the sale of real property shall include, in conspicuous, bold, and underscored type, the following buyer notice in the contract:</text>
      <text>“Notice on Zones of Dewatering Influence</text>
      <text>A purchaser of real property located in Baltimore County, Carroll County, Frederick County, or Washington County is advised to contact the Maryland Department of the Environment to determine whether the real property for purchase is located within a zone of dewatering influence. Maryland Law provides certain remedies for property impacted by dewatering.”.</text>
    </level>
    <level label="d">
      <level label="1">
        <text>A purchaser that receives the notice required under subsection (c) of this section on or before entering into a contract of sale does not have the right to rescind the contract of sale based on the information received from the vendor under subsection (c) of this section.</text>
      </level>
      <level label="2">
        <level label="i">
          <text>A purchaser that does not receive the notice required under subsection (c) of this section on or before entering into a contract of sale, on written notice to the vendor or the vendor’s agent:</text>
          <level label="1">
            <text>Has the unconditional right to rescind the contract at any time before, or within 5 days after, receipt of the notice required under subsection (c) of this section; and</text>
          </level>
          <level label="2">
            <text>Is entitled to the immediate return of any deposits made in accordance with the contract.</text>
          </level>
        </level>
        <level label="ii">
          <text>The return of any deposits held in trust by a licensed real estate broker to a purchaser under subparagraph (i)2 of this paragraph shall comply with the procedures set forth in § 17–505 of the Business Occupations and Professions Article.</text>
        </level>
      </level>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-712" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <text>A contract of sale for single–family residential real property in Montgomery County shall include a notice that school boundaries designated for the property may be subject to change.</text>
    </level>
    <level label="b">
      <text>A contract subject to the requirements of subsection (a) of this section may not be voided solely because:</text>
      <level label="1">
        <text>The notice required under subsection (a) of this section is not included in the contract; or</text>
      </level>
      <level label="2">
        <text>The buyer does not initial the notice required under subsection (a) of this section.</text>
      </level>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-713" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <text>In this section, “maximum contaminant level” and “water quality testing” have the meanings stated in § 9–4A–01 of the Environment Article.</text>
    </level>
    <level label="b">
      <level label="1">
        <text>A contract for the sale of real property on which a private or domestic water supply well is located shall include a provision requiring, as a condition of the sale, that the purchaser ensure that water quality testing of the well be conducted.</text>
      </level>
      <level label="2">
        <level label="i">
          <text>Settlement on the contract for the sale of the real property may not occur until the vendor and the purchaser have each received and reviewed the results of the water quality testing conducted under this subsection.</text>
        </level>
        <level label="ii">
          <text>At settlement on the contract for the sale of the real property, the vendor and the purchaser shall each certify in writing that they have received and reviewed the results of the water quality testing.</text>
        </level>
      </level>
      <level label="3">
        <text>For the purpose of this subsection, the results of the water quality testing remain valid for 3 years.</text>
      </level>
      <level label="4">
        <text>A purchaser may waive in writing the water quality testing requirements under this subsection.</text>
      </level>
    </level>
    <level label="c">
      <level label="1">
        <text>This subsection applies to a State–certified laboratory that conducts water quality testing for the purpose of complying with this section.</text>
      </level>
      <level label="2">
        <text>A State–certified laboratory shall provide the results of a water quality test on a standardized reporting form, as required by the Department of the Environment, that includes a report on any substance that exceeds:</text>
        <level label="i">
          <text>The maximum contaminant level for that substance; or</text>
        </level>
        <level label="ii">
          <text>A harmful level for that substance, as determined by the Department of the Environment.</text>
        </level>
      </level>
      <level label="3">
        <text>A State–certified laboratory may provide the results of water quality testing only to:</text>
        <level label="i">
          <level label="1">
            <text>The vendor and purchaser of real property for which the water quality testing was conducted; and</text>
          </level>
          <level label="2">
            <text>Any person authorized by the vendor or purchaser;</text>
          </level>
        </level>
        <level label="ii">
          <text>The Department of the Environment in accordance with paragraph (4) of this subsection; and</text>
        </level>
        <level label="iii">
          <text>Any person designated by a court order.</text>
        </level>
      </level>
      <level label="4">
        <text>Within 5 business days after completion of water quality testing, a State–certified laboratory shall submit to the Department of the Environment the results of water quality testing and include the following information:</text>
        <level label="i">
          <text>A statement that the water quality testing is for the purpose of complying with this section;</text>
        </level>
        <level label="ii">
          <text>The location of the real property, described by block and lot number, street address, county, and, if applicable, municipality;</text>
        </level>
        <level label="iii">
          <text>The name and mailing address of the person that requested the water quality testing;</text>
        </level>
        <level label="iv">
          <text>The name of the employee or an authorized representative of the laboratory who collected the well water sample;</text>
        </level>
        <level label="v">
          <text>The date and time that the well water sample was collected and the specific point of collection;</text>
        </level>
        <level label="vi">
          <text>The date and time the well water sample was analyzed by the laboratory;</text>
        </level>
        <level label="vii">
          <text>Whether the well water sample is raw water or finished water;</text>
        </level>
        <level label="viii">
          <text>The well tag number, if known; and</text>
        </level>
        <level label="ix">
          <text>Any other information required by the Department of the Environment.</text>
        </level>
      </level>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-714" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <text>The seller of residential property that is located within 1 mile of a National Priorities List (NPL) Superfund site shall provide the buyer with an addendum to the contract of sale that contains, in conspicuous type:</text>
      <level label="1">
        <text>Identification of the Superfund site that is within 1 mile of the property;</text>
      </level>
      <level label="2">
        <text>The definition of a National Priorities List (NPL) Superfund site under U.S. Environmental Protection Agency guidelines;</text>
      </level>
      <level label="3">
        <text>The Uniform Resource Locator (URL) for the following U.S. Environmental Protection Agency websites:</text>
        <level label="i">
          <text>Search for Superfund Sites Where You Live; and</text>
        </level>
        <level label="ii">
          <text>Superfund Human Exposure Dashboard; and</text>
        </level>
      </level>
      <level label="4">
        <text>A notice that within 5 days after signing and dating the contract of sale and on written notice to the seller, the buyer:</text>
        <level label="i">
          <text>May void the contract of sale; and</text>
        </level>
        <level label="ii">
          <text>On rescission of the contract of sale, shall receive a full refund of any money paid to the seller.</text>
        </level>
      </level>
    </level>
    <level label="b">
      <text>An addendum under subsection (a) of this section shall be provided in the following form or a substantially similar form:</text>
      <text>“NATIONAL PRIORITIES LIST (NPL) SUPERFUND SITE DISCLOSURE ADDENDUM (the “Addendum”)</text>
      <text>BUYER and SELLER hereby acknowledge that:</text>
    </level>
    <level label="1">
      <text>A National Priorities List (NPL) Superfund site is a site of national priority among the known releases or threatened releases of hazardous substances, pollutants, or contaminants throughout the United States and its territories;</text>
    </level>
    <level label="2">
      <text>The SELLER hereby notifies the BUYER that the property is located within 1 mile of ____________________________, which is a National Priorities List (NPL) Superfund site. Information about the location of Superfund sites throughout the State of Maryland and across the United States can be found at the Environmental Protection Agency’s Search for Superfund Sites Where You Live website; and</text>
    </level>
    <level label="3">
      <text>The BUYER hereby acknowledges that within five (5) days after signing and dating the Addendum, and on written notice to the SELLER, the BUYER may void the Contract of Sale and is entitled to the return of any money paid to the SELLER on account of the Contract of Sale.</text>
      <text>SELLER Signature _____________________________ Date _______________</text>
      <text>BUYER Signature ______________________________ Date _______________”. </text>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-715" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <level label="1">
        <text>In this section the following words have the meanings indicated.</text>
      </level>
      <level label="2">
        <text>“Residential property” means property improved by four or fewer single–family dwelling units that are designed principally and are intended for human habitation.</text>
      </level>
      <level label="3">
        <text>“Wholesale buyer” means a person that enters into a contract of sale with an owner of owner–occupied residential property in order to assign the contract to another person for a monetary assignment fee.</text>
      </level>
      <level label="4">
        <text>“Wholesale seller” means a person that, without holding legal title to owner–occupied residential property:</text>
        <level label="i">
          <text>Enters into a contract of sale for the property; and</text>
        </level>
        <level label="ii">
          <text>Assigns the person’s beneficial interest in the property to another.</text>
        </level>
      </level>
    </level>
    <level label="b">
      <text>This section does not apply to a sale proceeding under § 14–215 of the Maryland Rules.</text>
    </level>
    <level label="c">
      <level label="1">
        <text>Before entering into a contract of sale for residential property, a wholesale buyer shall disclose in writing to the owner of the property that the wholesale buyer may assign the contract of sale to another person.</text>
      </level>
      <level label="2">
        <text>Before assigning a contract of sale for residential property, a wholesale seller shall disclose in writing to a prospective assignee that the wholesale seller holds an equitable interest in the property and may not be able to convey title to the property.</text>
      </level>
    </level>
    <level label="d">
      <text>Notwithstanding any provision of a contract of sale or any other agreement, an owner of residential property may rescind a contract of sale to a wholesale buyer, or the assignee or successor of a wholesale buyer, without penalty at any time before closing if the wholesale buyer:</text>
      <level label="1">
        <text>Does not provide notice in accordance with the requirements of this section; and</text>
      </level>
      <level label="2">
        <text>Assigns the contract of sale.</text>
      </level>
    </level>
    <level label="e">
      <level label="1">
        <text>Notwithstanding any provision of a contract of sale or any other agreement, an assignee may rescind the agreement to purchase under the assigned contract of sale for residential property without penalty at any time before closing if a wholesale seller does not provide notice in accordance with the requirements of this section.</text>
      </level>
      <level label="2">
        <text>An assignee that rescinds a contract under paragraph (1) of this subsection is entitled to a refund of any deposit paid in connection with the assignment of a contract of sale of the residential property.</text>
      </level>
    </level>
  </section>
  <section article="grp" article_name="Real Property" number="10-716" title_number="10" title_name="Sales of Property" subtitle_number="7" subtitle_name="Contracts of Sale -- Miscellaneous Provisions">
    <level label="a">
      <text>In this section, “FEMA elevation certificate” has the meaning stated in § 5–810 of the Environment Article.</text>
    </level>
    <level label="b">
      <level label="1">
        <text>This section applies only to residential real property improved by four or fewer single family units.</text>
      </level>
      <level label="2">
        <text>This section does not apply to:</text>
        <level label="i">
          <text>The initial sale of a single family residence that:</text>
          <level label="1">
            <text>Has never been occupied; or</text>
          </level>
          <level label="2">
            <text>A certificate of occupancy has been issued for within 1 year before the date on which the vendor and purchaser enter into a contract of sale;</text>
          </level>
        </level>
        <level label="ii">
          <text>A transfer of property that is exempt from the transfer tax under § 13–207 of the Tax – Property Article, except:</text>
          <level label="1">
            <text>A land installment contract of sale; or</text>
          </level>
          <level label="2">
            <text>An option to purchase real property;</text>
          </level>
        </level>
        <level label="iii">
          <text>A sale by a lender, or an affiliate of a lender, that acquired the real property by foreclosure or deed in lieu of foreclosure;</text>
        </level>
        <level label="iv">
          <text>A sheriff’s sale, tax sale, or sale by foreclosure, partition, or court–appointed trustee;</text>
        </level>
        <level label="v">
          <text>A transfer by a fiduciary in the course of administering a decedent’s estate, guardianship, conservatorship, or trust;</text>
        </level>
        <level label="vi">
          <text>A transfer of a single family residential real property that the buyer will convert into a use other than residential; or</text>
        </level>
        <level label="vii">
          <text>A sale of unimproved real property.</text>
        </level>
      </level>
    </level>
    <level label="c">
      <text>Beginning July 1, 2027, before entering into a contract of sale, a vendor of residential real property shall provide to the purchaser:</text>
      <level label="1">
        <text>A completed flood risk disclosure statement form developed and published by the Department of the Environment under § 5–810 of the Environment Article; and</text>
      </level>
      <level label="2">
        <text>If available, a copy of the FEMA elevation certificate for the property.</text>
      </level>
    </level>
  </section>
</subtitle>