§ 5-121

Maryland § 5-121

• Jurisdiction: Maryland
• Article gcj: Courts and Judicial Proceedings
• Title: 5

Text

(a) (1) In this section the following words have the meaning indicated.

(2) “Homeowner” means:

(i) A record owner of residential property that is owner–occupied at the time the alleged violation of § 13–301 of the Commercial Law Article or other State law occurred; or

(ii) An individual who occupies residential property under a use and possession order issued under Title 8, Subtitle 2 of the Family Law Article.

(3) “Mortgage servicer” has the meaning stated in § 11–501 of the Financial Institutions Article.

(4) “Residential property” has the meaning stated in § 7–105.1 of the Real Property Article.

(5) “Unfair, abusive, or deceptive trade practice” has the meaning stated in § 13–301 of the Commercial Law Article.

(b) This section applies only to claims relating to residential property.

(c) An action filed by a homeowner against a mortgage servicer for damages arising out of an unfair, abusive, or deceptive trade practice shall be filed within the earlier of:

(1) 5 years after a foreclosure sale of the residential property; or

(2) If the mortgage servicer discloses its unfair, abusive, or deceptive trade practice to the homeowner, 3 years after the disclosure to the homeowner.