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Ch. 287
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Martin O'Malley, Governor
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(2) THE CONVERSION OF AN IRREDEEMABLE GROUND RENT TO A
REDEEMABLE GROUND RENT OCCURS ON THE DAY FOLLOWING THE END OF THE
PERIOD IN WHICH THE NOTICE MAY BE RECORDED.
(3) A DISABILITY OR LACK OF KNOWLEDGE OF ANY KIND DOES
NOT PREVENT THE CONVERSION OF AN IRREDEEMABLE GROUND RENT TO A
REDEEMABLE GROUND RENT IF NO NOTICE OF INTENTION TO PRESERVE
IRREDEEMABILITY IS FILED WITHIN THE TIME SPECIFIED IN SUBSECTION (E) (F)
OF THIS SECTION.
(C)(D) (1) ANY PERSON HOLDING AN IRREDEEMABLE GROUND
RENT GROUND LEASE HOLDER OF AN IRREDEEMABLE GROUND RENT MAY
RECORD A NOTICE OF INTENTION TO PRESERVE IRREDEEMABILITY AMONG THE
LAND RECORDS OF THE COUNTY WHERE THE LAND IS LOCATED.
(2) THE NOTICE MAY BE RECORDED BY:
(I) THE PERSON CLAIMING TO BE THE OWNER OF THE
IRREDEEMABLE GROUND RENT GROUND LEASE HOLDER; OR
(II) IF THE CLAIMANT GROUND LEASE HOLDER IS UNDER A
DISABILITY OR OTHERWISE UNABLE TO ASSERT A CLAIM ON THE PERSON'S
GROUND LEASE HOLDER'S OWN BEHALF, ANY OTHER PERSON ACTING ON THE
PERSON'S GROUND LEASE HOLDER'S BEHALF.
(D) (E) (1) TO BE EFFECTIVE AND TO BE ENTITLED TO BE
RECORDED, THE NOTICE SHALL BE EXECUTED BY THE PERSON FILING THE
NOTICE GROUND LEASE HOLDER, ACKNOWLEDGED BEFORE A NOTARY PUBLIC,
AND CONTAIN SUBSTANTIALLY THE FOLLOWING INFORMATION:
(I) AN ACCURATE DESCRIPTION OF THE LEASEHOLD
ESTATE INTEREST AFFECTED BY THE NOTICE, INCLUDING, IF KNOWN, THE
PROPERTY IMPROVEMENT ADDRESS;
(II) THE NAME OF EVERY OWNER OF THE IRREDEEMABLE
GROUND RENT GROUND LEASE HOLDER OF AN IRREDEEMABLE GROUND RENT;
(III) THE NAME OF EVERY OWNER OF THE LEASEHOLD
ESTATE LEASEHOLD TENANT AS OF THE TIME THE NOTICE IS FILED ACCORDING
TO THE LAND RECORDS OR THE RECORDS OF THE STATE DEPARTMENT OF
ASSESSMENTS AND TAXATION;
(IV) THE RECORDING REFERENCE OF THE GROUND LEASE;
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- 1853 -
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