ROBERT L. EHRLICH, JR., Governor                         H.B. 1087

(i) Documentation satisfactory to the Department of the claimant's
interest; and

(ii) Payment of a $20 fee, and any expediting fee required under §
1-203 of the Corporations and Associations Article.

(10)    A LANDLORD WHOSE GROUND RENT HAS BEEN EXTINGUISHED MAY
FILE A CLAIM WITH THE BALTIMORE CITY DIRECTOR OF FINANCE TO COLLECT AN
AMOUNT EQUAL TO THE ANNUAL RENT RESERVED MULTIPLIED BY 16.66, WHICH IS
CAPITALIZATION AT 6 PERCENT, BY PROVIDING TO THE DIRECTOR:

(I)      PROOF OF PAYMENT TO THE LANDLORD BY THE DEPARTMENT
OF BACK RENT UNDER PARAGRAPH (9) OF THIS SUBSECTION; AND

(II)     PAYMENT OF A $20 FEE.

(11)    (I) IN THE EVENT OF A DISPUTE REGARDING THE
EXTINGUISHMENT AMOUNT AS CALCULATED UNDER PARAGRAPH (10) OF THIS
SUBSECTION, THE LANDLORD MAY REFUSE PAYMENT FROM THE BALTIMORE CITY
DIRECTOR OF FINANCE AND FILE AN APPEAL REGARDING THE VALUATION IN THE
CIRCUIT COURT OF BALTIMORE CITY.

(II) IN AN APPEAL, THE LANDLORD IS ENTITLED TO RECEIVE THE
FAIR MARKET VALUE OF THE LANDLORD'S INTEREST IN THE PROPERTY AT THE TIME
OF THE EXTINGUISHMENT.

[(9)] (12) In the event of a dispute regarding the payment by the
Department to any person of all or any portion of the collected redemption amount
and up to 3 years' back rent to the extent required by this section and § 8-111.1 of this
subtitle, the Department may:

(i) File an interpleader action in the circuit court of the county
where the property is located; or

(ii) Reimburse the landlord from the fund established in § 1-203.3
of the Corporations and Associations Article.

[(10)] (13) The Department is not liable for any sum received by the
Department that exceeds the sum of:

(i) The redemption amount; and

(ii) Up to 3 years' back rent to the extent required by this section
and § 8-111.1 of this subtitle.

[(11)] (14) The Department shall credit all fees and funds collected under
this subsection to the fund established under § 1-203.3 of the Corporations and
Associations Article. Redemption AND EXTINGUISHMENT amounts received shall be
held in a ground rent redemption AND GROUND RENT EXTINGUISHMENT account in
that fund.

[(12)] (15) The Department shall maintain a list of properties for which
ground rents have been redeemed OR EXTINGUISHED under this subsection.

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