§ 17-607. Designation of title insurance, settlement, or escrow company, mortgage lender, financial institution, or title lawyer

Latest version.

   (a) In general. -- Except as otherwise provided in subsection (b) of this section, in a real estate transaction involving a single-family dwelling, a real estate broker, an associate real estate broker, a real estate salesperson, or a lawyer acting as a real estate broker may not require a buyer, as a condition of settlement, to employ a particular:

   (1) title insurance company;

   (2) settlement company;

   (3) escrow company;

   (4) mortgage lender, or financial institution as defined in the Financial Institutions Article; or

   (5) title lawyer.

(b) Exception. -- A seller may not be prohibited from offering owner financing as a condition of settlement.

HISTORY: An. Code 1957, art. 56A, § 4-607; 1989, ch. 3, § 1; 1991, ch. 527; 1994, ch. 3, § 13.

                    
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