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§ 14-301. Definitions

West's Annotated Code of MarylandReal Property

West's Annotated Code of Maryland
Real Property (Refs & Annos)
Title 14. Miscellaneous Rules (Refs & Annos)
Subtitle 3. Commercial Real Estate Broker's Lien (Refs & Annos)
MD Code, Real Property, § 14-301
§ 14-301. Definitions
Currentness
In general
(a) In this subtitle the following words have the meanings indicated unless the context requires otherwise.
Broker
(b) “Broker” means:
(1) An individual licensed as, or otherwise authorized to act as, a real estate broker under Title 17 of the Business Occupations and Professions Article; or
(2) A corporation or partnership authorized to provide real estate brokerage services under Title 17 of the Business Occupations and Professions Article.
Broker’s lien
(c) “Broker's lien” means a lien established in accordance with this subtitle.
Claimant
(d) “Claimant” means a broker claiming a broker's lien under this subtitle.
Commercial lease
(e) “Commercial lease” means a lease of building floor space intended to be used by the tenant for a nonresidential use whether or not the lease expressly sets forth a use.
Commercial leasing brokerage agreement
(f)(1) “Commercial leasing brokerage agreement” or “brokerage agreement” means a written agreement between a broker and the owner of commercial property that provides for the payment of a commercial leasing commission by the owner to the broker for services in obtaining a commercial tenant regardless as to whether the broker acted as the agent for the owner or the commercial tenant.
(2) “Commercial leasing brokerage agreement” or “brokerage agreement” includes a written unilateral offer from an owner of commercial property to one or more brokers, including the broker claiming a lien under this subtitle.
Commercial leasing commission
(g) “Commercial leasing commission” or “commission” means the compensation payable by the owner of commercial property to a broker for obtaining a commercial tenant under a commercial leasing brokerage agreement.
Commercial property
(h) “Commercial property” means land, and any improvements on the land, used or intended to be used for a nonresidential purpose.
Commercial tenant
(i) “Commercial tenant” means a tenant under a commercial lease.
Lien property
(j) “Lien property” means the commercial property against which a broker's lien is claimed or against which a broker's lien has attached under this subtitle.
Owner
(k) “Owner” means the owner of the commercial property.

Credits

Added by Acts 1994, c. 516, § 1, eff. Oct. 1, 1994. Amended by Acts 1994, c. 3, § 13, eff. Feb. 28, 1994.
MD Code, Real Property, § 14-301, MD REAL PROP § 14-301
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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