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§ 1-1406. Property

West's Annotated Code of MarylandLocal GovernmentEffective: October 1, 2017

West's Annotated Code of Maryland
Local Government (Refs & Annos)
Division I. Definitions; General Provisions [Titles 1-3] (Refs & Annos)
Title 1. Definitions; General Provisions (Refs & Annos)
Subtitle 14. Establishment of Land Bank Authorities (Refs & Annos)
Effective: October 1, 2017
MD Code, Local Government, § 1-1406
Formerly cited as MD LOCAL GOVT § 5-406Formerly cited as MD CODE, Art. 23A, § 57
§ 1-1406. Property
Currentness
In general
(a) An authority may:
(1) acquire real property or rights or interests in real property, directly or through a person or governmental entity, by gift, devise, transfer, exchange, foreclosure, purchase, or otherwise on terms and conditions and in a manner the authority considers proper;
(2) own property in the authority's name, including tax foreclosed property and property without clear title;
(3) sell, lease as lessor, transfer, and dispose of the authority's interest in property;
(4) procure insurance against loss in connection with the property, assets, or activities of the authority; and
(5) execute deeds, mortgages, contracts, leases, purchases, or other agreements regarding the property of the authority.
Limitation
(b) Property purchased, owned, or sold under this section may not be located outside the jurisdiction of the local government in which the authority is located.
Quiet title or foreclosure proceedings
(c)(1) An authority may quiet title or foreclose on a property in which it holds an interest that is not fee simple title by:
(i) conducting an examination of title to determine the identity of any person possessing a claim or interest in the property; and
(ii) filing a complaint to quiet title in accordance with Title 14, Subtitle 6 of the Real Property Article.
(2) An authority may join in a single complaint to quiet title or foreclose on one or more parcels of real property.

Credits

Added as Local Government § 5-406 by Acts 2013, c. 119, § 2, eff. Oct. 1, 2013. Renumbered as Local Government § 1-1406 by Acts 2017, c. 618, § 1, eff. Oct. 1, 2017; Acts 2017, c. 619, § 1, eff. Oct. 1, 2017. Amended by Acts 2017, c. 618, § 2, eff. Oct. 1, 2017; Acts 2017, c. 619. § 2, eff. Oct. 1, 2017.
MD Code, Local Government, § 1-1406, MD LOCAL GOVT § 1-1406
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