JOURNAL ARTICLE

When Does a 12-Year Statute of Limitations Apply to a Loan Document in Maryland?

  • Published In: Maryland Bar Journal, 2025, v. 7, n. 2. P. 41 1 of 3

  • Database: Legal Source 2 of 3

  • Authored By: LICHTENSTEIN, MICHAEL J.; PARADIS, REBEKAH 3 of 3

Abstract

The article focuses on the application of the statute of limitations for loan documents in Maryland, specifically distinguishing between the standard three-year period and a potential extension to 12 years under certain conditions. Generally, civil actions in Maryland must be filed within three years, but if a loan document qualifies as a "specialty"—such as a promissory note or a contract under seal—the 12-year statute may apply. The article discusses relevant case law, including instances where courts have determined whether a document is under seal and the implications for both lenders and borrowers regarding the duration of legal claims. It emphasizes the importance of understanding these distinctions when drafting and signing loan agreements. [Extracted from the article]

Additional Information

  • Source:Maryland Bar Journal. 2025/09, Vol. 7, Issue 2, p41
  • Document Type:Article
  • Subject Area:Law
  • Publication Date:2025
  • ISSN:00254177
  • Accession Number:190174818
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