Maryland Code, REAL PROPERTY 9-114
Current as of: 2023 | Check for updates
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Terms Used In Maryland Code, REAL PROPERTY 9-114
- Contract: A legal written agreement that becomes binding when signed.
- 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 settlement or payment in full between a contractor and an owner, the contractor shall give to the owner a signed release of lien from each material supplier and subcontractor who provided work or materials under the contract.
(b) An owner is not subject to a lien and is not otherwise liable for any work or materials included in the release under subsection (a) of this section.