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§ 17-302. Exceptions to licensing requirement

West's Annotated Code of MarylandBusiness Occupations and Professions

West's Annotated Code of Maryland
Business Occupations and Professions
Title 17. Real Estate Brokers (Refs & Annos)
Subtitle 3. Licensing (Refs & Annos)
MD Code, Business Occupations & Professions, § 17-302
§ 17-302. Exceptions to licensing requirement
Unimproved property owned by individual
(a) An individual is not required to hold a license under this subtitle to:
(1) sell, in a calendar year, 6 or fewer unimproved lots that the individual owns; or
(2) subdivide and sell unimproved property that the individual owns for 10 years or more.
Time measurement
(b) To measure time under subsection (a)(2) of this section, if the ownership of property passes by inheritance to successive individuals, an individual who inherits the property may add the time that the property was owned by preceding individuals in the line of inheritance to the time that the property is owned by that individual.
Ownership determination
(c) To determine ownership under subsection (a)(2) of this section, an individual shall be considered the owner of property that is titled to a corporation if:
(1) during the period in question:
(i) the corporation was wholly owned by the individual or the heirs of the individual; and
(ii) the individual or the heirs of the individual were personally liable for all indebtedness or claims relating to the property; and
(2) the individual or the heirs of the individual remain personally liable for all indebtedness or claims relating to the property that arose during the period in question.

Credits

Added by Acts 1989, c. 3, § 1, eff. Oct. 1, 1989. Renumbered from Business Occupations and Professions § 16-302 by Acts 1994, c. 3, § 13, eff. Feb. 28, 1994.
Formerly Art. 56A, § 4-302.
MD Code, Business Occupations & Professions, § 17-302, MD BUS OCCUP & PROF § 17-302
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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