§ 7-623. Order of forfeiture.

(a) In general.

(1) If the court determines that the vehicle should be forfeited, the court must order the vehicle forfeited to the City.

(2) If, however, the court determines that the vehicle is subject to a bona fide recorded security interest created without the knowledge that the vehicle was being or was to be used in violation of this subtitle, the court must order that the vehicle be released within 5 days to the secured party of record.

(b) Disposition of vehicle subject to security interest.

(1) The secured party must sell the vehicle in a commercially reasonable manner.

(2) Any sale ordered under this section must be made for cash and must vest in the purchaser a clear and absolute title to the vehicle.

(3) The proceeds of the sale must be applied as follows:

(i) to the court costs of the forfeiture proceedings;

(ii) to the balance due to the secured party, including all reasonable costs incident to the sale;

(iii) to payment of all other expenses of the proceedings for forfeiture, including expenses of seizure, maintenance, or custody; and

(iv) to the general funds of the City.

Any vehicle that has been ordered forfeited to the City may be:

(1) sold as provided in City Code Article 31, Subtitle 31, Part 5; or

(2) destroyed.

(d) Proceeds of bond.

The proceeds of any bond posted to regain possession of the vehicle must be applied as provided for proceeds of sale under subsection (b)(3) of this section.