{"data":{"id":"us-md/md.-code-financial-institutions-5-514","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 5–514","heading":"","body":"(a) (1) In this section the following words have the meanings indicated.\n(2) “Conventional home mortgage loan” has the meaning stated in § 11–501 of this article.\n(3) “Dwelling” has the meaning stated in § 11–501 of this article.\n(4) “Shared appreciation agreement” has the meaning stated in § 11–501 of this article.\n(b) (1) This subsection applies only to a conventional home mortgage loan that is not already required by law or regulation by the State or federal government to be assumable in connection with the granting of absolute divorce.\n(2) A banking institution shall include in any conventional home mortgage loan a provision authorizing any of the existing borrowers to purchase the property interest of another borrower on the loan by assuming the seller’s portion of the mortgage if:\n(i) The assumption is in connection with the granting of a decree of absolute divorce; and\n(ii) The banking institution determines that the assuming borrower qualifies for the loan.\n(c) A banking institution shall disclose an assumption provision in any conventional home mortgage loan in writing to a loan applicant before the completion of the loan application.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=5-514","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"a0508b96f0e6858f16e33ee4e06373878f6669ca2f4e9fefafcc1b9e43a9d260","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-5-513","next":"us-md/md.-code-financial-institutions-5-601"},"notice":"GroundRules: Original legal text. Not legal advice."}