Housing

HB 1506 limits fees that new condominium or homeowners association (HOA) owners must pay at closing. It prohibits associations from charging new unit owners (not initial buyers) more than the current monthly assessment paid by existing owners at closing. Similarly, new lot owners in HOAs cannot be charged more than the existing lot owner's current monthly assessment. This bill directly affects new buyers in these communities by capping their initial capital contribution fees. The law takes effect October 1, 2026.

HB 1098 expands bankruptcy exemptions for Maryland residents by including residential property held in a revocable trust as eligible for protection. It increases the exemption cap for individuals aged 60+ with disabilities or veteran status to $300,000 (adjusted annually for inflation), while maintaining a $150,000 cap for other filers. The law automatically adjusts these amounts each year based on the Consumer Price Index, rounded to the nearest $25. This directly affects Maryland bankruptcy debtors owning homes - either directly or through revocable trusts - who qualify under the new or adjusted exemption thresholds.