Md. Code, Real. Prop. § 14-117.1

Current with changes from the 2021 Legislative Session through Ch. 254, effective on or before 6/1/2021
Section 14-117.1 - Deferred Water and Sewer Charges Homeowner Disclosure Act of 2014 - Prince George's County
(a) This section applies only to existing single-family residential real property in Prince George's County.
(b) A person or entity that imposes a deferred water and sewer charge shall include with each bill a statement that includes:
(1) The amount of the annual assessment;
(2) The approximate number of payments remaining on the assessment;
(3) The amount remaining on the assessment, including interest;
(4) The name and address of the person or entity most recently responsible for collection of the assessment;
(5) The method used to compute the deferred water and sewer charge on the property;
(6) The interest rate on the assessment;
(7) The estimated payoff amount of the assessment; and
(8) A statement that payoff of the assessment is allowed without prepayment penalty.
(c) The balance owed on a deferred water and sewer assessment may be redeemed at the present value of the assessment.

Md. Code, RP § 14-117.1

Added by 2014 Md. Laws, Ch. 441,Sec. 1, eff. 10/1/2014.