{"data":{"id":"us-md/md.-code-commercial-law-12-924","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 12–924","heading":"","body":"(a) (1) Except as provided in paragraph (2) of this subsection, this section applies only to a plan between a credit grantor and a consumer borrower under which a credit grantor has taken any property as security for credit extended under the plan.\n(2) This section does not apply to a loan to which § 3-105.1 of the Real Property Article applies.\n(b) A credit grantor shall release any recorded mortgage, deed of trust, security agreement, or other lien securing the extension of credit within a reasonable time after:\n(1) The outstanding unpaid indebtedness under a plan has been paid in full;\n(2) There are no further obligations of the credit grantor or the consumer borrower under the plan; and\n(3) The account under the plan is closed.\n(c) The release shall be:\n(1) In writing; and\n(2) Prepared at the expense of the credit grantor.\n(d) (1) If the credit grantor does not record the release, the credit grantor shall furnish the consumer borrower with the release in a recordable form.\n(2) If the credit grantor records the release, the credit grantor shall furnish the consumer borrower with a copy of the release.\n(e) (1) If a fee is collected by a credit grantor for the recording of a release:\n(i) The release shall be recorded by the credit grantor; and\n(ii) Any portion of the fee not paid to a governmental entity for recording the release shall be refunded to the borrower.\n(2) If a fee is not collected by a credit grantor for the recording of a release, the credit grantor is not obligated to record the release.","path":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=12-924","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"4ba770e1750e20c8404c22a0c4cb4e134b8a317ec5a9c287255a2ac17a112ef8","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-12-923.1","next":"us-md/md.-code-commercial-law-12-925"},"notice":"GroundRules: Original legal text. Not legal advice."}