Maryland § 10-107
Full text of Maryland Maryland Code § 10-107, with citation guidance and answers to common questions.
§ 10-107.
(a) Every vendor under a land installment contract shall mail or deliver a statement to the purchaser:
(1) When 40 percent of the original cash price has been paid; and
(2) (i) Annually within 30 days of January 1; or
(ii) On demand of the purchaser no more than twice a year.
(b) The statement shall show:
(1) The total amount paid for any ground rent, insurance, taxes, and any other periodic charge;
(2) The amount credited to principal and interest; and
(3) The balance due.
Frequently Asked Questions About Maryland § 10-107
What does Maryland Code § 10-107 cover?
Section 10-107 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 § 10-107?
A common citation format is "Maryland Code § 10-107" (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 § 10-107 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.