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§ 24-513. Offers of life estates in property

West's Annotated Code of MarylandEducationEffective: March 22, 2007

West's Annotated Code of Maryland
Education (Refs & Annos)
Division IV. Other Education Provisions [Titles 21-End] (Refs & Annos)
Title 24. Miscellaneous Education Agencies (Refs & Annos)
Subtitle 5. Historic ST. Mary's City Commission (Refs & Annos)
Part III. Property Acquisition Procedures
Effective: March 22, 2007
MD Code, Education, § 24-513
§ 24-513. Offers of life estates in property
Currentness
Definitions
(a)(1) In this section the following words have the meanings indicated.
(2) “Dwelling” means the dwelling house of one or more homeowners, and the curtilage where it is erected, which is used as the principal residence of that homeowner or homeowners.
(3) “Homeowner” means a person who, on July 1, 1976, actually resided in a dwelling in which that person had a legal interest, including any life estate, whether as sole owner, joint tenant, tenant in common, or tenant by the entirety.
(4) “Principal residence” means a dwelling actually occupied or expected to be actually occupied by the homeowner or the homeowners for more than 6 consecutive months of the present calendar year. Nonoccupancy of the dwelling because of illness or the need for special care of the homeowner is occupancy for the purposes of this section.
Offers of life estates in property
(b)(1) When the Commission or other State agency commences the acquisition by purchase, gift, or condemnation of the dwelling of a homeowner within the proposed boundaries established by the Commission, the Commission or other State agency shall offer in writing the homeowner or homeowners a life estate in that property. Acceptance of the life estate shall be taken into consideration when determining the value of the property. Upon acceptance, the recipient of the life estate will pay real estate property taxes, insurance, and ordinary maintenance costs. Requests for material alterations or additions to the property must be submitted in writing to the Historic St. Mary's City Commission and a request must be approved or disapproved by the Commission within 45 days of the receipt of the request.
(2) In the case of a purchase, the Commission or other State agency shall make the offer:
(i) At the time of each offer for purchase; and
(ii) In a document separate and apart from all other documents at the time of ratification of the sales contract.
(3) In the case of a gift or condemnation, the Commission or other State agency shall make the offer at the time of transfer of any right, title or interest, present or future, in the property.
Time of offer
(c) The Commission or other State agency may offer at any time a life estate to any other homeowner or property owner within the proposed boundaries established by the Commission.
Time of acceptance
(d) The homeowner or property owner may accept the offer before the 30th calendar day following the time set forth in subsections (b) and (c) of this section.
Use of property
(e) Until such time as the Commission certifies legitimate need for the residue, the holder of the life estate may continue to use it as it existed prior to the transfer of title and the creation of the life estate, on a lease arrangement.

Credits

Added by Acts 1997, c. 583, § 1, eff. July 1, 1997. Amended by Acts 2007, c. 5, § 1, eff. March 22, 2007.
MD Code, Education, § 24-513, MD EDUC § 24-513
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document