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This entry was published on 2014-09-22
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SECTION 254-D
Fees by mortgagee for direct payment of real property taxes by mortgagor prohibited
Real Property (RPP) CHAPTER 50, ARTICLE 8
§ 254-d. Fees by mortgagee for direct payment of real property taxes
by mortgagor prohibited. No mortgagor on a loan secured primarily by an
interest in real property shall be charged a fee by the mortgagee
because the parties have agreed that the mortgagor shall pay real
property taxes on such real property directly to the taxing authority or
authorities and not in escrow to the mortgagee or the mortgagee's agent.