1042                            Laws of Maryland                      [Ch. 349

tion of such lease, it shall be conclusively presumed in reference
to the whole or any part or parts of the demised premises, of which
possession shall have been so retained, and in favor of the tenant or
of the person claiming under the tenant, that a new lease of the
whole of the demised premises was executed prior to the expiration
of the lease by the landlord therein named, or by the person right-
fully claiming under the landlord to the tenant or to the person
rightfully claiming under the tenant for such additional term, under
such rent and upon such covenants, conditions and stipulations as
were provided in the lease.

8-102. Redemption of certain leases.

(a)    Applicability.

This Section is not intended to apply and does not apply to leases
of property leased exclusively for business, commercial, manufac-
turing, mercantile or industrial purposes, as distinguished from
residence purposes, where the term of the lease, including all re-
newals provided for therein, shall not exceed ninety-nine years,
provided that a lease of property improved or to be improved by
apartments, CONDOMINIUMS, COOPERATIVES or other build-
ings for multiple-family use on such property constitutes a business
and not a residential purpose. The term "multiple-family use," for
purposes of this section, shall not apply to duplexes or single-family
structures converted to multiple-dwelling units.

(b)    General rule.

All rents reserved by leases of land for a longer period than
fifteen years shall be redeemable, at the option of the tenant,
after a notice of one month to the landlord, for a sum of money
equal to the capitalization of the rent reserved at a rate not ex-
ceeding six percent per annum. If the lease was executed on or after
July 1, 1971, it shall be redeemable at any time after the expiration
of three years from the date of the lease; if executed between
April 5, 1900 and June 80, 1971, at any time after the expiration
of five years from its date; if executed between April 6, 1888 and
April k, 1900, at any time after the expiration of ten years from
its date; and if executed between April 8, 1884 and April 5, 1888,
at any time after the expiration of fifteen years from its date.
As to leases executed between April 8, 1884 and April 5, 1888, the
redemption price may be some other sum specified in the lease not
exceeding four percent capitalization of the rent.

(c)    Where reversion is vested in a person without a power of sale.
Where a tenant has power to redeem a lease from a trustee or

other person who does not have a power of sale, the lease may
nevertheless be redeemed in accordance with such procedures as may
be prescribed in the Maryland Rules.

Subtitle 2—Miscellaneous Rules

8-201. Remedies of and against transferee of reversion in leased

property.

Any transferee, whether by voluntary conveyance or by opera-
tion of law, of the reversion in leased property, or of the rent
therein, has the same remedies by entry, action or otherwise, for
nonperformance of any condition or agreement contained in the lease,
as the original landlord would have had if the reversion or rent
had remained in him; and any transferee, whether by voluntary