Proposed Legislation in Maryland Aims to Regulate Foreclosed Property Maintenance and Registration
Legislation Update
February 23, 2016
MD HB 0664
- Title: Foreclosures – Responsibility for Maintenance of Residential Property and Registration Requirement
- Synopsis (Maryland General Assembly ): Establishing that, on and after the filing of an action to foreclose a mortgage or deed of trust on residential property, the secured party shall be responsible for maintenance of the property until the foreclosure sale occurs; requiring the secured party to submit a registration to the Foreclosed Property Registry within 30 days after the filing of a foreclosure action on residential property; requiring the registration to be in a specified form and contain specified information; establishing fees; etc.
- To view the text of the proposed legislation, please click here.
- Status: First Reading 2/4/2016 – Hearing scheduled 2/23/2016 1:00pm
HB 1171
- Title: Foreclosed Property Registry – Responsibility for Maintenance of Residential Property, Registration Requirement, and Access to Registry
- Synopsis (Maryland General Assembly ): Establishing that, on and after the filing of an action to foreclose a mortgage or deed of trust on residential property, the secured party shall be responsible for maintenance of the property until the foreclosure sale occurs; requiring the secured party to submit a registration to the Foreclosed Property Registry within 30 days after the filing of a foreclosure action on residential property; requiring the registration to be in a specified form and contain specified information; establishing fees; applying the Act prospectively; etc.
- To view the text of the proposed legislation, please click here.
- Status: First Reading 2/11/2016 – Hearing scheduled 3/1/2016 1:00pmSource: Maryland General Assembly
Additional Resource:
Bill would address blight at Frederick City properties in foreclosure (The Frederick News-Post 2/23/16)