§ 7-307

The person responsible for the closing of a real estate transaction shall file with the Department a written statement, made and signed by the owner under the penalties of perjury, that the transaction complies with this title, if the transaction includes:

(1) a sale or conveyance of an assisted project or the real property associated with it, and:

(i) is a protected action; or

(ii) occurred within 10 years after a protected action for which the owner failed to comply with this title; or

(2) a release of:

(i) a mortgage secured by an assisted project; or

(ii) a regulatory agreement or other document executed in connection with the mortgage that restricts the income levels of the tenants or the rental rates of the assisted project.