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§ 14-508. Reversionary rights of affordable housing land trusts

West's Annotated Code of MarylandReal PropertyEffective: October 1, 2010

West's Annotated Code of Maryland
Real Property (Refs & Annos)
Title 14. Miscellaneous Rules (Refs & Annos)
Subtitle 5. Affordable Housing Land Trusts (Refs & Annos)
Effective: October 1, 2010
MD Code, Real Property, § 14-508
§ 14-508. Reversionary rights of affordable housing land trusts
Currentness
The reversionary rights of an affordable housing land trust as set forth in the affordable housing land trust agreement are limited to provisions that relate to:
(1) The transfer of the property to a person who is not a party to the agreement or a person who does not meet the conditions set forth in the affordable housing land trust agreement;
(2) The possession of the property by a person who does not meet the conditions set forth in the affordable housing land trust agreement;
(3) The transfer of an interest in the property to a person who does not meet the conditions set forth in the affordable housing land trust agreement;
(4) The waste, destruction, or abandonment of the property; or
(5) The failure to comply with any financial provision in the affordable housing land trust agreement.

Credits

Added by Acts 2010, c. 609, § 1, eff. Oct. 1, 2010; Acts 2010, c. 610, § 1, eff. Oct. 1, 2010.
MD Code, Real Property, § 14-508, MD REAL PROP § 14-508
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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