Maryland § 10-101
Full text of Maryland Maryland Code § 10-101, with citation guidance and answers to common questions.
§ 10-101.
(a) In this subtitle the following words have the meanings indicated unless otherwise apparent from context.
(b) “Down payment” means the payment made by the purchaser to the vendor on account of the purchase price at or before the time of the execution of a land installment contract.
(c) “Land installment contract” means a legally binding executory agreement under which:
(1) The vendor agrees to sell an interest in property to the purchaser and the purchaser agrees to pay the purchase price in five or more subsequent payments exclusive of the down payment, if any; and
(2) The vendor retains title as security for the purchaser’s obligation.
(d) “Property” means improved property or improved chattels real, occupied or to be occupied by the purchaser as a dwelling, or an unimproved, subdivided lot or lots intended to be improved for residential purposes.
(e) “Purchaser” means a natural person who purchases property subject to a land installment contract, or any legal successor in interest to him regardless of whether the person has entered into an agreement as to extension, default, or refund.
(f) “Vendor” means any person who makes a sale of property by means of a land installment contract.
Frequently Asked Questions About Maryland § 10-101
What does Maryland Code § 10-101 cover?
Section 10-101 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 10-101?
A common citation format is "Maryland Code § 10-101" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 10-101 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.