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§ 3-2A-08. Sale or transfer of acquired property

West's Annotated Code of MarylandNatural Resources

West's Annotated Code of Maryland
Natural Resources
Title 3. Environmental Programs (Refs & Annos)
Subtitle 2a. Land Trust Grant Fund (Refs & Annos)
MD Code, Natural Resources, § 3-2A-08
§ 3-2A-08. Sale or transfer of acquired property
Currentness
In general
(a) A land trust may, with the approval of the Trust, subsequently sell or transfer the acquired property to a third party.
Conservation easements, reversionary interests
(b) As a condition of the grant, the Trust may require the dedication of a conservation easement on or reversionary interest in the property in favor of the Trust.
Reimbursement of grants
(c)(1) Grants awarded to land trusts under this subtitle may be fully or partially reimbursed to the Land Trust Grant Fund under the general conditions set forth in paragraph (2) of this subsection, to be further specified by the Trust in the grant conditions.
(2) When land or an interest in land is acquired by the land trust with a grant under this subtitle, on resale of the property a proportion of the money from the resale shall be repaid to the Land Trust Grant Fund as may be provided in the grant conditions.

Credits

Added by Acts 1990, c. 63, § 1, eff. July 1, 1990. Amended by Acts 1991, c. 55, § 1.
MD Code, Natural Resources, § 3-2A-08, MD NAT RES § 3-2A-08
Current through legislation effective through July 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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