Md. Code, Business Occupations and Professions § 17-524
This is the official text of Md. Code, Business Occupations and Professions § 17-524, part of Maryland’s Code, Business Occupations and Professions — governs professional and occupational licensing.
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§17–524.
Official statutory text
(a) Each real estate contract submitted to a party by a real estate broker, an associate real estate broker, or a real estate salesperson for use in the sale of a single-family dwelling shall contain, in bold-faced type, a statement that the buyer has the right to select the buyer’s own:
(1) title insurance company;
(2) settlement company;
(3) escrow company;
(4) mortgage lender, or financial institution as defined in the Financial Institutions Article; or
(5) title lawyer.
(b) The statement required under subsection (a) of this section shall also contain, in bold-faced type, a statement that a seller may not be prohibited from offering owner financing as a condition of settlement.
(c) A real estate contract is not rendered invalid by the omission of the statement to the buyer required under subsections (a) and (b) of this section.
(1) title insurance company;
(2) settlement company;
(3) escrow company;
(4) mortgage lender, or financial institution as defined in the Financial Institutions Article; or
(5) title lawyer.
(b) The statement required under subsection (a) of this section shall also contain, in bold-faced type, a statement that a seller may not be prohibited from offering owner financing as a condition of settlement.
(c) A real estate contract is not rendered invalid by the omission of the statement to the buyer required under subsections (a) and (b) of this section.
Status: in_force · Read it on the official government site
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