r1r STANDING COMMITTEE ON RULES OF PRACTICE - Maryland ...

MARYLAND RULES OF PROCEDURE
TITLE 14 - SALES OF PROPERTY
CHAPTER 200 - FORECLOSURE OF LIEN INSTRUMENTS
AMEND Rule 14-206 (a) to fix the initially required bond
amount at $25,000 if the sale is to the lienholder or the
lienholder’s designee, to fix the initially required bond amount
at the amount of the sale price if the sale is to someone other
than the lienholder or the lienholder’s designee, and to allow
the lienholder to designate in a writing filed in the proceeding
a person to take title on the lienholder’s behalf, as follows:
Rule 14-206. PROCEDURE PRIOR TO SALE
(a) Bond
Before making a sale of property to foreclose a lien, the
person authorized to make the sale shall file a bond to the State
of Maryland conditioned upon compliance with any court order that
may be entered in relation to the sale of the property or
distribution of the proceeds of the sale. Unless the court
orders otherwise, the amount of the bond shall be the amount of
the debt plus the estimated expenses of the proceeding $25,000.
If the property is sold to a person other than the holder of the
indebtedness or a person designated by the holder in a writing
filed in the proceeding to take title on the holder’s behalf, the
person authorized to make the sale shall increase the amount of
the bond, before the sale is ratified, to the amount of the sale
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