Maryland SB691: Real Property - Termination of Residential Real Estate Contracts - Contingency Clauses

What the bill says

An act concerning Real Property - Termination of Residential Real Estate Contracts - Contingency Clauses FOR the purpose of altering the definition of "contingency clause" as it applies to the circumstances under which a residential real estate contract may be terminated by a purchaser; altering the time period within which a certain holder of trust money must distribute trust money to a purchaser; and generally relating to contingency clauses and residential real estate contracts…

From the enrolled text, June 3, 2026:

AN ACT concerning Real Property - Termination of Residential Real Estate Contracts - Contingency Clauses FOR the purpose of altering the definition of "contingency clause" as it applies to the circumstances under which a residential real estate contract may be terminated by a purchaser; altering the time period within which a certain holder of trust money must distribute trust money to a purchaser; and generally relating to contingency clauses and residential real estate contracts. BY repealing and reenacting, without amendments, Article - Real Property Section 10-802(a) Annotated Code of Maryland (2023 Replacement Volume and 2025 Supplement) BY repealing and reenacting, with amendments, Article - Real Property Section 10-803 Annotated Code of Maryland (2023 Replacement Volume and 2025 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: Article - Real Property 10-802. (a) (1) In this section the following words have the meanings indicated. (2) "Escrow agent" means a person engaged in the business of residential real estate settlements who receives trust money. (3) "Residential real estate" means: (i) Real property improved by four or fewer single-family dwelling units that are designed principally and are intended for human habitation; and (ii) Unimproved real property zoned for residential use by the local zoning authority of the county or municipality in which …

Read the full official text

Sponsors

• Mike McKay (R, 1) · primary sponsor

Latest actions

1. May 26, 2026: Approved by the Governor - Chapter 716
2. April 9, 2026: Returned Passed
3. April 8, 2026: Third Reading Passed (129-0)
4. April 8, 2026: Favorable Adopted Second Reading Passed
5. April 8, 2026: Favorable Report by Economic Matters
6. March 21, 2026: Referred Economic Matters
7. March 20, 2026: Third Reading Passed (42-0)
8. March 19, 2026: Second Reading Passed
9. March 19, 2026: Favorable Adopted
10. March 19, 2026: Favorable Report by Judicial Proceedings

Votes

• Third Reading Passed (129-0) (April 8, 2026): 129 yea, 0 nay, passed
• Third Reading Passed (42-0) (March 20, 2026): 42 yea, 0 nay, passed

Common questions

What is SB691?

SB691 is a bill in the Maryland Legislature (2026 Regular Session): Real Property - Termination of Residential Real Estate Contracts - Contingency Clauses.

What does SB691 do?

In its own words: An act concerning Real Property - Termination of Residential Real Estate Contracts - Contingency Clauses FOR the purpose of altering the definition of "contingency clause" as it applies to the circumstances under which a residential real estate contract may be terminated by a purchaser; altering the time period within which a certain holder of trust money must distribute trust money to a purchaser; and generally relating to contingency clauses and residential real estate contracts…

What is the status of SB691?

Signed into law as of May 26, 2026. Latest action: Approved by the Governor - Chapter 716 (May 26, 2026).

Who sponsored SB691?

Mike McKay (R, 1).

Where is the official record for SB691?

On the Maryland Legislature website: https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/sb0691?ys=2026RS