Greenspoon Marder Financial Services Updates – State Of Maryland

Apr 9, 2020

On April 3, 2020 the Governor of the State of Maryland signed Executive Order 20-04-03-01.

This Order amends and restates the Order dated March 16, 2020 temporarily prohibiting evictions of tenants suffering substantial loss of income due to COVID-19 and additionally prohibiting certain repossessions, stopping initiation of residential mortgage foreclosures, prohibiting commercial evictions and allowing suspension of certain lending limits.

Highlights of the Order:

The Commissioner is ordered to suspend operation of the Commissioner’s Notice of Intent to Foreclose Electronic System and to discontinue acceptance of Notices of Intent to Foreclose until the State of Emergency is terminated and the catastrophic health emergency is rescinded.
Any statute, rule or regulation of the State of Maryland or any political subdivision that permits a Creditor to repossess any automobile, truck or Chattel Home ( personal property used a person’s residence- mobile homes, trailers and live-aboard boats) by self-help is suspended until the State of Emergency is terminated and the catastrophic health emergency is rescinded.
No court shall give any judgment for possession or repossession, warrant for restitution of possession or repossession of residential, commercial, or industrial real property if the tenant can demonstrate to the court, through documentation or other objectively verifiable means, that the tenant suffered Substantial Loss of Income – applicable to RP§ 8-401 and RP§ 8-402.1

This Greenspoon Marder LLP Client Alert is issued for informational purposes only and is not intended to be construed or used as general legal advice nor a solicitation of any type. Please contact the author(s) or your Greenspoon Marder LLP contact if you have any questions regarding the currency of this information. The hiring of a lawyer is an important decision. Before you decide, ask for written information about the lawyer’s legal qualifications and experience.

About Greenspoon Marder

Greenspoon Marder LLP is a full-service law firm with over 225 attorneys and more than 20 office locations across the United States. With operations from Miami to New York and from Denver to Los Angeles, our firm attracts some of the nation’s top talent in key markets and innovation hubs. Our core practice areas include Real Estate, Litigation, and Transactional Services, complemented by the capabilities of a full-service firm. Greenspoon Marder has maintained a spot on The American Lawyer’s Am Law 200 as one of the top law firms in the U.S. since 2015, and our goal is to provide exceptional client service by developing a thorough understanding of each client’s business needs and objectives in order to provide strategic, cost-effective solutions.

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