Get A Quote
How Bills Supported by Maryland Realtors Fared in Recent Legislative Session
As a title company, Maryland real estate laws are incredibly important to us. They’re also incredibly impactful to our lender and real estate agent clientele. That’s why we are giving a summary of a recent report published by Maryland Realtors that summarizes the successes and failures of their advocacy campaigns during the most recent legislative session.
Real Property – Deletion of Ownership Restrictions Based on Race, Religious Belief, or National Origin – Passed
Makes it far easier to remove illegal covenants affecting race, religious belief or national origin from property records. See the entire bill at SB 621.
Brokers – Business Succession in the Event of Disability – Passed
- Expands the rules regarding business succession in the event of a broker’s death to business succession when a broker is permanently disabled. See the entire bill at HB 1482/SB 846.
Real Estate Guaranty Fund – Fund Transfer – Passed
- Provides budget flexibility to the Real Estate Commission to avoid unnecessary fee assessments on real estate licensees. See the entire bill at HB 1656/SB 843.
Sea Level Rise Real Estate Disclosure – Partially Passed
- Among other provisions, requires a seller of property to indicate whether the property would be impacted by sea level rise and provide a map of how the property would be impacted. Passed but the real estate disclosure was removed from the bill. See the entire bill at HB 1350/SB 1006
Limited Residential Lodging – Defeated
- Would have required homeowners to register as a hotel or motel and comply with associated laws if they listed their property on sites like Airbnb. HB 1604/SB 1081 was defeated by the House Economic Matters Committee.
Tenant Late Payments – Defeated
- Would have protected tenants from late fees if their rent payment was late because a government benefit had been late. HB 580/SB 250 was defeated in the House Environment and Transportation Committee.
To see the rest of the legislation report, click here. Maryland Realtors have promised a more expansive report in the coming months.
Velocity Title Moves Your Business Forward
Velocity Title supports the real estate industry with a comprehensive line of title services that add value to each and every transaction. With a focus on the best CUSTOMER EXPERIENCE, Velocity Title incorporates leading title TECHNOLOGY and EXPERTISE into every transaction—enabling the final step in the home buying process to be EASY, EFFICIENT and INFORMATIVE. To learn more, visit our website or contact us today!