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See Maryland Judgment Enforcement Law below.
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Judgments and Enforcement:
A judgment entered in a court of the State of Maryland generally is enforceable for a period of twelve (12) years (Courts: 5-101(a)(3)); and may be renewed at any time before the expiration of the twelve-year period. (Civ. Proc. Rule 2-625.)
A money judgment that is recorded and indexed in the county in which the judgment was entered constitutes a lien on the judgment debtor's land located in that county. (Courts: 11-402; Civ. Proc. R.2-621.) Except as to those property that are exempt under Maryland statutes, all property of a judgment debtor, wherever situated, including any property or credit, matured unmatured, may be attached to satisfy a money judgment. (Courts: 5-301, 5-305.) The wages of a judgment debtor may be garnished to satisfy a judgment. However, the greater of $145 per week or 75% of the net wages of the judgment debtor are exempt from levy. (Courts: 15-601.1.)
The State of Maryland permits the entry of a Judgment by Confession upon the filing of a complaint, the original or a photocopy of the written instrument authorizing the confession of judgment for a liquidated amount, and an affidavit specifying the amount due, the address or the whereabouts of the defendant known to plaintiff. Upon entry of a confession of judgment, the clerk of the court shall issue a notice informing a defendant of the entry of judgment. The defendant may within a specified time move to open, modify, or vacate the judgment. A judgment creditor may execution a judgment by confession only upon the expiration of the time for defendant to contest such judgment. (Civ. Proc. Rule 2-611.)
The State of Maryland generally adopts the Uniform Enforcement of Foreign Judgments Act. (Courts: 11-801, et seq.) Any judgment, decree or order of a court of the United States or of any other court is entitled to full faith and credit in the State of Maryland.
A judgment creditor seeking to enforce a foreign judgment may file an authenticated copy of the foreign judgment and an affidavit showing the name and last known post office address of the judgment debtor and the judgment creditor with the District Court if the amount does not exceed $2,500, or with the Clerk of either the District Court or the Circuit Court if the amount exceeds $2,500. Promptly upon the filing of the foreign judgment and affidavit, the clerk of the court shall mail notice of the filing of the foreign judgment to the judgment debtor at the address given and shall note the mailing in the docket. The notice must include the name and post office address of the judgment creditor and if the judgment creditor has an attorney in Maryland, the attorney's name and address. The judgment creditor may mail a notice of the filing of the judgment to the judgment debtor and may file proof of mailing with the clerk. A judgment so filed has the same effect and is subject to the same procedures, defenses, and proceedings for reopening, vacating, or staying as a judgment of the Courts of the State of Maryland. (Courts: 11-802(b).)
No execution or other process for enforcement of a foreign judgment may be issued until an appeal is concluded, the time for appeal expires, or a stay of execution expires or is vacated by the appropriate Court. (Courts: 11-804.)
Legal rate: The legal rate of interest in the State of Maryland is six percent (6%) per annum. (Comm. L: 12-102)
The legal rate of interest in the State of Maryland is six percent (6%) per annum. (Comm. L: 12-102)
Written Contract rate: A lender may charge up to a maximum interest rate of eight percent (8%) per annum on a written agreement. (Comm. L. 12-103(a)(1).
Judgment rate: The interest rate on a money judgment is 10% per annum. (Courts: 11-107.) However, a judgment arising from a contract may carry the contract rate on the unpaid balance until its maturity. (Courts: 11-106.)
In general, a debtor may claim exemption of his homestead and certain personal property from attachment and execution of a judgment, or in a bankruptcy proceeding.
Personal property which may be exempt from execution, seizure or attachment may include wearing apparel, books, tools, instruments, or appliances, in an amount not to exceed $2,500 in value necessary for the practice of any trade or profession except those kept for sale, lease, or barter; money payable in the event of sickness, accident, injury, or death of any person,
including compensation for loss of future earnings; professionally prescribed health aids for the debtor or any dependent of the debtor; the debtor's interest, not to exceed $500 in value, in household furnishings, household goods, wearing apparel, appliances, books, animals kept as pets, and other items that are held primarily for the personal, family, or household use of the debtor or any dependent of the debtor; cash or property of any kind equivalent in value to $3,000; and any interest in a retirement plan qualified under Â§ 401 (a), Â§ 403 (a), Â§ 403 (b), Â§ 408, Â§ 408A, Â§ 414 (d), or Â§ 414 (e) of the United States Internal Revenue Code of 1986, as amended, or Â§ 409 (as in effect prior to January 1984) of the United States Internal Revenue Code of 1954, as amended.
In addition, an individual debtor domiciled in the State of Maryland may exempt the debtor's aggregate interest, not to exceed $2,500 in value, in real property or personal property. (Courts: 11-504.)
In any bankruptcy proceeding, a debtor is not entitled to the federal exemptions provided by Â§ 522 (d) of the United States Bankruptcy Code. (Courts: 11-504(g).)