§ 8-803. Creation of reversionary interest in residential property
West's Annotated Code of MarylandReal PropertyEffective: July 1, 2015
Effective: July 1, 2015
MD Code, Real Property, § 8-803
Formerly cited as MD REAL PROP § 8-111.2
§ 8-803. Creation of reversionary interest in residential property
(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 to be used for four or fewer dwelling units may not create a reversionary interest in the property under a ground lease or a ground sublease for a term of years renewable forever subject to the payment of a periodic ground rent.
Credits
Added as Real Property § 8-111.2 by Acts 2007, c. 1, § 1, eff. March 22, 2007. Amended by Acts 2007, c. 286, § 2, eff. July 1, 2007; Acts 2010, c. 609, § 1, eff. Oct. 1, 2010; Acts 2010, c. 610, § 1, eff. Oct. 1, 2010. Renumbered as Real Property § 8-803 and amended by Acts 2015, c. 428, § 2, eff. July 1, 2015.
MD Code, Real Property, § 8-803, MD REAL PROP § 8-803
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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