Maryland Code, REAL PROPERTY 14-312
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Terms Used In Maryland Code, REAL PROPERTY 14-312
- Lien: A claim against real or personal property in satisfaction of a debt.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(a) At the time of any settlement or payment in full between a broker and an owner, the broker shall give to the owner a signed release of the broker’s lien established under this subtitle.
(b) An owner is not subject to a lien and is not otherwise liable for any commission included in the release under subsection (a) of this section.