Maryland § 17-316
Full text of Maryland Maryland Code § 17-316, with citation guidance and answers to common questions.
§ 17-316.
(a) Within 1 year after delivery under this title of abandoned property other than money, the Administrator shall determine:
(1) Whether the property has commercial value; and
(2) If the property has commercial value, the property’s commercial value.
(b) (1) Except as provided in subsection (c) of this section, within 1 year after delivery under this title of abandoned property other than money, the Administrator shall offer the abandoned property for sale.
(2) The sale shall be to the highest bidder at public sale in whatever place in the State affords the most favorable market for the property involved.
(3) The Administrator may decline the highest bid and reoffer the property for sale if the price bid is insufficient.
(c) (1) The Administrator need not offer abandoned property for sale if:
(i) The probable cost of sale exceeds the Administrator’s estimation of the value of the property; or
(ii) The Administrator determines that the property has no commercial value.
(2) If under paragraph (1) of this subsection abandoned property need not be offered for sale, the Administrator may:
(i) Return the property to the holder;
(ii) Destroy the property; or
(iii) Otherwise dispose of the property.
(d) The Administrator shall give reasonable notice to the public of any sale held under this section.
(e) (1) The purchaser at any sale conducted by the Administrator under this section shall receive title to the property purchased, free from every claim of the owner or prior holder of it and of every person who claims through or under them.
(2) The Administrator shall execute all documents necessary to complete the transfer of title.
(f) No action by any person may be brought or maintained against the State or any officer of the State for or on account of any transaction entered into pursuant to and in accordance with the provisions of this section.
Frequently Asked Questions About Maryland § 17-316
What does Maryland Code § 17-316 cover?
Section 17-316 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 § 17-316?
A common citation format is "Maryland Code § 17-316" (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 § 17-316 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.