Legal Question in Credit and Debt Law in Maryland

Statue of limitations

I recently had a deficiency judgment against me revised and closed for statistical purposes because I was never served and when they auctioned off the property in May of 2002 the bank signed a waiver of right to a deficiency judgment. I was told the bank could still sue me in another court. The bank caused the foreclosure on the property by breaching the construction contract making it impossible for me to complete the project. I know these people will try and take me back to court. My question, is it true that the statue of limitation is 3 years except if the documentation has a seal next to it like the documentation I have, in that case it's 12 years.


Asked on 3/15/05, 1:49 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Statue of limitations

Generally, that's correct. A sealed instrument in Maryland extends the statute from 3 to 12 years. What constitutes a sealed instrument is not always clear - a notary seal may not be enough, nor may the mere word "seal". You need to consult a lawyer to advise you.

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Answered on 3/15/05, 1:55 pm


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