ROBERT L. EHRLICH, JR., Governor                             Ch. 464

(2) TO PAY REDEMPTION AMOUNTS TO FORMER OWNERS OF GROUND
RENTS REDEEMED IN ACCORDANCE WITH § 8-110 OF THE REAL PROPERTY ARTICLE.

(c)      The State Treasurer shall hold and the State Comptroller shall account for
the fund.

(d)     The fund shall be invested and reinvested in the same manner as other
State funds.

(e)     Investment earnings shall accrue to the benefit of the fund.

Article - Real Property
3-102.

(a) (1) Any other instrument affecting property, including any contract for
the grant of property, or any subordination agreement establishing priorities between
interests in property may be recorded.

(2)     The following instruments also may be recorded:

(i) Any notice of deferred property footage assessment for street
construction;

(ii) Any boundary survey plat signed and sealed by a professional
land surveyor or property line surveyor licensed in the State;

(iii) Any assumption agreement by which a person agrees to assume
the liability of a debt or other obligation secured by a mortgage or deed of trust; [or]

(iv) Any release of personal liability of a borrower or guarantor
under a mortgage or under a note or other obligation secured by a deed of trust; OR

(V) A GROUND RENT REDEMPTION CERTIFICATE ISSUED UNDER §
8-110 OF THIS ARTICLE.

(3)     The recording of any instrument constitutes constructive notice from
the date of recording.

8-110.

(a) (1) This section does not apply to leases of property leased for business,
commercial, manufacturing, mercantile, or industrial purposes or any other purpose
which is not primarily residential, where the term of the lease, including all renewals
provided for, does not exceed 99 years. A lease of the entire property improved or to be
improved by any apartment, condominium, cooperative, or other building for
multiple-family use on the property constitutes a business and not a residential
purpose. The term "multiple-family use" does not apply to any duplex or
single-family structure converted to a multiple-dwelling unit.

(2) This section does not apply to irredeemable leases executed before
April 9, 1884.

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