Md. Code, Real. Prop. § 7-105.17
Current with changes from the 2024 Legislative Session, chs. 2--407, effective on or before 7/1/2024
Section 7-105.17 - Motion for deficiency judgment(a)(1) In this section the following words have the meanings indicated.(2) "Owner-occupied residential property" has the meaning stated in § 7-105.1 of this subtitle.(3) "Residential property" has the meaning stated in § 7-105.1 of this subtitle.(b) This section applies to residential property that was owner-occupied residential property at the time an order to docket or complaint to foreclose was filed.(c) After the final ratification of the auditor's report following a sale made in accordance with §§ 7-105.1 through 7-105.10 of this subtitle or the Maryland Rules, a secured party or an appropriate party in interest may file a motion for a deficiency judgment if the proceeds of the sale, after deducting all costs and expenses allowed by the court, are insufficient to satisfy the debt and accrued interest.(d) A motion for deficiency judgment under this section shall be filed within 3 years after the final ratification of the auditor's report.(e) The secured party or party in interest shall serve the motion in accordance with the Maryland Rules.(f) The filing of a motion for deficiency judgment in accordance with this section and the Maryland Rules shall constitute the sole post-ratification remedy available to a secured party or party in interest for breach of a covenant contained in a deed of trust, mortgage, or promissory note that secures or is secured by owner-occupied residential property.Amended by 2019 Md. Laws, Ch. 93,Sec. 2, eff. 10/1/2019.Renumbered from § -7-105.13 by 2019 Md. Laws, Ch. 93,Sec. 1, eff. 10/1/2019.Added by 2014 Md. Laws, Ch. 592,Sec. 2, eff. 7/1/2014.This section is set out more than once due to postponed, multiple, or conflicting amendments.