Statutes, codes, and regulations
Maryland Court Rules
Title 14 - Sales of Property
Chapter 200 - Foreclosure of Lien Instruments
Rule 14-204 - Institution of Action

Md. R. Prop. Sales 14-204

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As amended through April 5, 2024
Rule 14-204 - Institution of Action
(a)Under Power of Sale. Subject to compliance with section (c) of this Rule, any individual authorized to exercise a power of sale may institute an action to foreclose the lien.
(b)Under Assent to Decree. A secured party may file an action to foreclose the lien under an assent to a decree, except that an action to foreclose a deed of trust shall be instituted by the beneficiary of the deed of trust, any trustee appointed in the deed, or any successor trustee.
(c)Fractional Owners of Debt.
(1) Minimum Fractional Interest Required

Except when the lien instrument is a deed of trust, a power of sale may not be exercised, and the court may not enter an order for a sale under an assent to a decree, unless the power is exercised or application for an order is made or consented to by the holders of 25% or more of the entire debt due under the lien instrument.

(2) Priority of Actions Involving Fractional Interests. If more than one party is authorized under these Rules to file an action to foreclose a lien, the first such party to file an action acquires the exclusive right to proceed on behalf of all fractional interest holders of the lien instrument being foreclosed.

Md. R. Prop. Sales 14-204

This Rule is derived as follows:

Section (a) is derived from the 2008 version of former Rule 14-202(a)(1).

Section (b) is derived from the 2008 version of former Rule 14-202(a)(2).

Subsection (c)(1) is derived from the 2008 version of former Rule 14-202(b)(1) and (c).

Subsection (c)(2) is derived from the 2008 version of former Rule 14-202(b)(2).

Adopted Feb. 10, 2009, eff. 5/1/2009; amended March 30, 2021, eff. 7/1/2021.

HISTORICAL NOTES

Prior Rules:

Rule 14-204, adopted June 5, 1996, effective January 1, 1997, amended January 10, 2006, effective January 10, 2006; amended July 22, 2008, effective July 23, 2008, related to the commencement of action to foreclosure and the process, rescinded February 10, 2009, effective May 1, 2009. See Md. Rules 14-207 and 14-209.