If property is sold and granted, and as part of the same transaction the purchaser gives a mortgage or deed of trust to secure total or partial payment of the purchase money, the mortgage or deed of trust shall be preferred to any previous judgment or decree for the payment of money which is obtained against the purchaser if it recites that the sum received is all or part of the purchase money of the property or otherwise recites that it is a purchase money mortgage or deed of trust. This section is applicable regardless of whether the mortgage or deed of trust is given to the vendor of the property or to a third party who advances all or part of the purchase money.
Structure Maryland Statutes
Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens
Subtitle 1 - Mortgages and Deeds of Trust
Section 7-102 - Necessity for Recitation of Secured Amount; Priority of Future Advances
Section 7-103 - Presumption of Ownership of Notes
Section 7-104 - Priority of Purchase-Money Mortgage or Deed of Trust
Section 7-105.1 - Residential Property Foreclosure Procedure; Mediation
Section 7-105.2 - Notice of Foreclosure -- Procedure
Section 7-105.3 - Notice and Disclosure Requirements for Foreclosure Sales
Section 7-105.6 - Interest Payable After Sale in Certain Counties
Section 7-105.7 - Secured Party May Purchase at Sale
Section 7-105.8 - Rights and Remedies as Between Purchasers and Tenants
Section 7-105.9 - Effect of Foreclosure on Annual Crops
Section 7-105.10 - Effect of Order for Resale on Default
Section 7-105.11 - Notice to Occupants of Residential Property in Foreclosure Action
Section 7-105.12 - Right to Collect Rent From Bona Fide Tenant in Possession
Section 7-105.13 - Certificate of Vacancy or Certificate of Property Unfit for Human Habitation
Section 7-105.14 - Internet-Based Foreclosed Property Registry
Section 7-105.15 - Foreclosure -- Legislative Powers Regarding Notice or Regulations
Section 7-105.16 - Foreclosure Sale of Residential Property
Section 7-105.17 - Motion for Deficiency Judgment
Section 7-105.18 - Expedited Foreclosure for Vacant and Abandoned Property
Section 7-106 - Releases; Continuation Statements
Section 7-107 - Payment of Property Taxes by Lender
Section 7-108 - Incorporation by Reference
Section 7-109 - Lenders Required to Disburse Certain Purchase Money Loans at Closing
Section 7-112 - Priority of Refinance Mortgage Over Junior Liens