Section 17-607 - Designation of title insurance, settlement, or escrow company, mortgage lender, financial institution, or title lawyer.
§ 17-607. Designation of title insurance, settlement, or escrow company, mortgage lender, financial institution, or title lawyer.
(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.
[An. Code 1957, art. 56A, § 4-607; 1989, ch. 3, § 1; 1991, ch. 527; 1994, ch. 3, § 13.]