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§ 8-707.1. Leasehold tenant’s or interested party’s submittal of redemption of ground lease

West's Annotated Code of MarylandReal PropertyEffective: October 1, 2020

West's Annotated Code of Maryland
Real Property (Refs & Annos)
Title 8. Landlord and Tenant (Refs & Annos)
Subtitle 7. Registry of Ground Leases (Refs & Annos)
Effective: October 1, 2020
MD Code, Real Property, § 8-707.1
§ 8-707.1. Leasehold tenant’s or interested party’s submittal of redemption of ground lease
In general
(a)(1) Subject to paragraph (2) of this subsection, a leasehold tenant or an interested party may submit to the Department documentation satisfactory to the Department of the redemption of a ground lease if:
(i) The ground lease is redeemed in a private transaction between the ground lease holder and the leasehold tenant; and
(ii) The ground lease holder has failed to notify the Department of the redemption as required under § 8-706(2) of this subtitle.
(2) The documentation submitted under paragraph (1) of this subsection shall include a certified copy of the ground lease redemption deed that has been filed in the land records of the county in which the property that was subject to the ground lease is located.
Updating online registry of ground lease properties
(b) After accepting documentation under subsection (a) of this section, the Department shall update the online registry as required under § 8-703 of this subtitle to indicate that a ground lease has been redeemed.

Credits

Added by Acts 2020, c. 82, § 1, eff. Oct. 1, 2020.
MD Code, Real Property, § 8-707.1, MD REAL PROP § 8-707.1
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.
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