Maryland SB 154: Real Property - Recordation of Deeds - Assignments of Rents and Assignments of Leases for Security Purposes

Bill Text

EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW.
[Brackets] indicate matter deleted from existing law.
Underlining indicates amendments to bill.
Strike out indicates matter stricken from the bill by amendment or deleted from the law by
amendment.
*sb0154*

SENATE BILL 154
N1 0lr1302
SB 980/19 – JPR CF 0lr2091
By: Senator West
Introduced and read first time: January 10, 2020
Assigned to: Judicial Proceedings
Committee Report: Favorable
Senate action: Adopted
Read second time: February 4, 2020

CHAPTER ______

AN ACT concerning 1

Real Property – Recordation of Deeds – Assignments of Rents and Assignments 2
of Leases for Security Purposes 3

FOR the purpose of exempting an assignment of rents and an assignment of leases from 4
certain requirements related to recordation; authorizing a certain assignment of 5
rents or an assignment of leases to be recorded without a certain certification; and 6
generally relating to assignments of rents and assignments of leases for security 7
purposes. 8

BY repealing and reenacting, without amendments, 9
Article – Real Property 10
Section 1–101(a) and (c) 11
Annotated Code of Maryland 12
(2015 Replacement Volume and 2019 Supplement) 13

BY repealing and reenacting, with amendments, 14
Article – Real Property 15
Section 3–104(f)(1) 16
Annotated Code of Maryland 17
(2015 Replacement Volume and 2019 Supplement) 18

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 19
That the Laws of Maryland read as follows: 20

Article – Real Property 21

2 SENATE BILL 154

1–101. 1

(a) In this article the following words have the meanings indicated unless 2
otherwise apparent from context. 3

(c) “Deed” includes any deed, grant, mortgage, deed of trust, lease, assignment, 4
and release, pertaining to land or property or any interest therein or appurtenant thereto, 5
including an interest in rents and profits from rents. 6

3–104. 7

(f) (1) (i) In this paragraph, “under the attorney’s supervision” includes 8
review of an instrument by the certifying attorney. 9

(ii) A deed other than a mortgage, A deed of trust, AN ASSIGNMENT 10
OF RENTS OR AN ASSIGNMENT OF LEASES FOR SECURITY PURPOSES, or an 11
assignment or A release of a mortgage or A deed of trust may not be recorded unless it 12
bears: 13

1. The certification of an attorney admitted to the Bar of this 14
State that the instrument has been prepared by the attorney or under the attorney’s 15
supervision; or 16

2. A certification by a party named in the instrument that 17
the instrument was prepared by that party. 18

(iii) A mortgage, A deed of trust, AN ASSIGNMENT OF RENTS OR AN 19
ASSIGNMENT OF LEASES FOR SECURITY PURPOSES, or an assignment or A release of a 20
mortgage or A deed of trust prepared by any attorney or one of the parties named in the 21
instrument may be recorded without the certification required under subparagraph (ii) of 22
this paragraph. 23

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 24
October 1, 2020. 25

Approved:
________________________________________________________________________________
Governor.
________________________________________________________________________________
President of the Senate.
________________________________________________________________________________
Speaker of the House of Delegates.