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Statutes Text

Article - Business Occupations and Professions


    (a)    Except as otherwise provided in subsection (b) of this section, in a real estate transaction involving a single-family dwelling, a real estate broker, an associate real estate broker, a real estate salesperson, or a lawyer acting as a real estate broker may not require a buyer, as a condition of settlement, to employ a particular:

        (1)    title insurance company;

        (2)    settlement company;

        (3)    escrow company;

        (4)    mortgage lender, or financial institution as defined in the Financial Institutions Article; or

        (5)    title lawyer.

    (b)    A seller may not be prohibited from offering owner financing as a condition of settlement.

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