Section 8-809 – Collection and Notice for the Payment of Ground Rent
(a) A ground lease holder may not collect a yearly or half–yearly installment payment of a ground rent due under the ground lease unless: (1) The ground lease is registered with the State Department of Assessments and Taxation under Subtitle 7 of this title; and (2) At least 60 days before the payment is due, the ground lease […]
Section 8-810 – Notice of Transfer of Ground Lease
(a) Within 30 days after any transfer of a ground lease, the transferee shall notify the leasehold tenant of the transfer. (b) (1) The notification shall include the name and address of the new ground lease holder and the date of the transfer. (2) If the property is subject to a redeemable ground rent, the notification shall also include […]
Section 8-811 – Notice of Ground Rent in Contract for Sale of Property
A contract for the sale of real property subject to a ground rent shall contain the following notice in boldface type, at least as large as 14 point, in substantially the following form: “NOTICE REQUIRED BY MARYLAND LAW REGARDING YOUR GROUND RENT This property (address) is subject to a ground lease. The annual payment on […]
Section 8-812 – Redemption of Ground Lease
(a) This section does not apply to a: (1) Home equity line of credit; (2) Loan secured by an indemnity deed of trust; or (3) Commercial loan. (b) Before the settlement of a loan secured by a mortgage or deed of trust on residential real property improved by four or fewer single–family units that is subject to a redeemable ground […]
Section 8-801 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) “Ground lease” means a residential lease or sublease for a term of years renewable forever subject to the payment of a periodic ground rent. (c) (1) “Ground lease holder” means the holder of the reversionary interest under a ground lease. (2) “Ground lease holder” includes an agent of […]
Section 8-802 – General Consideration
(a) This subtitle applies to residential property that was or is used, intended to be used, or authorized to be used for four or fewer dwelling units. (b) This subtitle does not apply to property: (1) Leased for business, commercial, manufacturing, mercantile, or industrial purposes, or any other purpose that is not primarily residential; (2) Improved or to be […]
Section 8-803 – Reversionary Interest Under a Ground Lease or Sublease Prohibited for Four or Fewer Dwelling Units
(a) This section does not apply to property that is subject to an affordable housing land trust agreement executed under Title 14, Subtitle 5 of this article. (b) On or after January 22, 2007, the owner of a fee simple or leasehold estate in residential property that is or was used, intended to be used, or authorized […]
Section 8-804 – Redemption of Certain Reversions
(a) (1) Except as provided in subsection (f) of this section, this section does not apply to irredeemable ground leases preserved under § 8–805 of this subtitle. (2) This section does not apply to an affordable housing land trust agreement executed under Title 14, Subtitle 5 of this article. (b) (1) Except for apartment and cooperative leases, any reversion reserved […]
Section 8-805 – Conversion of Irredeemable Ground Rents
(a) (1) In this section the following words have the meanings indicated. (2) “Irredeemable ground rent” means a ground rent created under a ground lease executed before April 9, 1884, that does not contain a provision allowing the leasehold tenant to redeem the ground rent. (3) “Redeemable ground rent” means a ground rent that may be redeemed in accordance […]
Section 8-806 – Past Due Ground Rent Pursuant to Action by Ground Lease Holder or Reversionary Transferee
(a) (1) In any suit, action, or proceeding by a ground lease holder, or the transferee of the reversion in property subject to a ground lease, to recover past due ground rent, the ground lease holder, or the transferee of the reversion is entitled to demand or recover not more than 3 years’ past due ground rent, […]