(a) In this section, “zone of dewatering influence” means the area around a surface mine in karst terrain designated by the Department of the Environment under § 15-813 of the Environment Article.

(b) This section applies only to the sale of a property located within Baltimore County, Carroll County, Frederick County, and Washington County.

(c) A contract for the sale of real property shall include, in conspicuous, bold, and underscored type, the following buyer notice in the contract:

“Notice on Zones of Dewatering Influence

A purchaser of real property located in Baltimore County, Carroll County, Frederick County, or Washington County is advised to contact the Maryland Department of the Environment to determine whether the real property for purchase is located within a zone of dewatering influence. Maryland Law provides certain remedies for property impacted by dewatering.”.

(d) (1) A purchaser that receives the notice required under subsection (c) of this section on or before entering into a contract of sale does not have the right to rescind the contract of sale based on the information received from the vendor under subsection (c) of this section.

(2) (i) A purchaser that does not receive the notice required under subsection (c) of this section on or before entering into a contract of sale, on written notice to the vendor or the vendor’s agent:

1. Has the unconditional right to rescind the contract at any time before, or within 5 days after, receipt of the notice required under subsection (c) of this section; and

2. Is entitled to the immediate return of any deposits made in accordance with the contract.

(ii) The return of any deposits held in trust by a licensed real estate broker to a purchaser under subparagraph (i)2 of this paragraph shall comply with the procedures set forth in § 17-505 of the Business Occupations and Professions Article.