HARRY HUGHES, Governor

2933

Property Owners

FOR the purpose of exempting certain real estate owners,
heirs, and corporations from licensure who sell or
subdivide certain lots, residences, or condominiums.

BY repealing and reenacting, with amendments,

Article 56 - Licenses

Section 212(f)(4) (9)

Annotated Code of Maryland

(1979 Replacement Volume and 1980 Supplement)

BY adding to

Article 56 - Licenses

Section 212(f)(10)

Annotated Code of Maryland

(1979 Replacement Volume and 1980 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 56 - Licenses

212.

(f) The terms "real estate broker" and "real estate
salesman" do not include:

(4) (I) [Owners or lessors] LESSORS of property
in the LEASING AND management [and sale] of such property;
OR

(II) INDIVIDUAL OWNERS WHO SELL PROPERTY
THEY OWN [unless their principal and regular business is
that of purchasing, selling, exchanging or trading in real
estate and options and leases thereon]; [nor]

(4) Owners or lessors of property in the

management and sale of such property unless their principal
and regular business is that of purchasing, selling,
exchanging or trading in real estate and options and leases
thereon; [nor] HOWEVER, A PERSON'S REGULAR AND PRINCIPAL

BUSINESS IS NOT TO BE CONSIDERED TO BE PURCHASING, SELLING,
EXCHANGING OR TRADING IN REAL ESTATE OR OPTIONS AND LEASES

THEREON BY REASON OF:

(9)  Designated agents of owners or licensed real
estate brokers in the management of such property unless the
designated agent's principal and regular business is that of
purchasing, selling, exchanging, or trading in real estate
and real estate options[.]; NOR

(10)  AN OWNER OF PROPERTY