Volume 794, Page 3135 View pdf image |
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PARRIS N. GLENDENING, Governor Ch. 558 Section 8-110 Annotated Code of Maryland (1996 Replacement Volume) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF Article - Real Property 8-110. (a) (1) This section does not apply to leases of property leased for business, (2) This section does not apply to irredeemable leases executed before April (3) THIS SECTION DOES NOT APPLY TO LEASES OF THE GROUND OR (b) Except for apartment and cooperative leases, any reversion reserved in a lease (1) For a sum equal to the annual rent reserved multiplied by: (i) 25, which is capitalization at 4 percent, if the lease was executed (ii) 8.33, which is capitalization at 12 percent, if the lease was or is (iii) 16.66, which is capitalization at 6 percent, if the lease was created (2) For a lesser sum if specified in the lease; or (3) For a sum to which the parties may agree at the time of redemption. (c) If the lease is executed on or after July 1, 1971, the reversion is redeemable at - 3135 -
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Volume 794, Page 3135 View pdf image |
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