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Ch. 288
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Martin O'Malley, Governor
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(ADDRESS)
(PHONE NUMBER)
NOTE REGARDING YOUR RIGHTS AND RESPONSIBILITIES UNDER
MARYLAND LAW:
AS THE OWNER OF THIS PROPERTY, YOU ARE OBLIGATED TO PAY THE GROUND
RENT TO THE GROUND RENT OWNER LEASE HOLDER. IT IS ALSO YOUR
RESPONSIBILITY TO NOTIFY THE GROUND RENT OWNER LEASE HOLDER IF YOU
CHANGE YOUR ADDRESS OR TRANSFER OWNERSHIP OF THE PROPERTY.
IF YOU FAIL TO PAY THE GROUND RENT ON TIME. YOU ARE STILL RESPONSIBLE
FOR PAYING THE GROUND RENT. IN ADDITION, IF THE GROUND RENT OWNER
LEASE HOLDER FILES AN ACTION IN COURT MAY TAKE ACTION TO COLLECT THE
PAST DUE GROUND RENT, YOU MAY BE REQUIRED TO PAY THE GROUND RENT
OWNER FOR FEES AND COSTS ASSOCIATED WITH THE COLLECTION OF THE PAST
DUE GROUND RENT. MOREOVER, THE GROUND RENT OWNER MAY ALSO FILE AN
ACTION IN COURT TO TAKE POSSESSION OF THE PROPERTY WHICH MAY RESULT
IN YOUR BEING RESPONSIBLE FOR ADDITIONAL FEES AND COSTS AND
ULTIMATELY IN YOUR LOSS OF THE PROPERTY. PLEASE NOTE THAT UNDER
MARYLAND LAW, A GROUND RENT OWNER LEASE HOLDER MAY DEMAND NOT
MORE THAN 3 YEARS OF PAST DUE GROUND RENT, AND THERE ARE LIMITS ON
HOW MUCH A GROUND RENT OWNER MAY BE REIMBURSED FOR SOME OF THE
FEES AND COSTS. IF YOU FAIL TO PAY THE GROUND RENT ON TIME, YOU
SHOULD CONTACT A LAWYER FOR ADVICE.
AS THE OWNER OF THIS PROPERTY, YOU ARE ENTITLED TO OFFER TO
PURCHASE REDEEM, OR PURCHASE, THE GROUND RENT LEASE FROM THE
GROUND RENT OWNER LEASE HOLDER AND OBTAIN ABSOLUTE OWNERSHIP OF
THE PROPERTY. THE REDEMPTION AMOUNT IS FIXED BY LAW BUT MAY ALSO BE
NEGOTIATED WITH THE GROUND LEASE HOLDER FOR A DIFFERENT AMOUNT,
FOR INFORMATION ON PURCHASING REDEEMING THE GROUND RENT LEASE,
CONTACT THE GROUND RENT OWNER LEASE HOLDER. IF THE IDENTITY OF THE
GROUND RENT OWNER LEASE HOLDER IS UNKNOWN, THE STATE DEPARTMENT
OF ASSESSMENTS AND TAXATION PROVIDES A PROCESS TO REDEEM THE
GROUND RENT LEASE THAT MAY RESULT IN YOUR OBTAINING ABSOLUTE
OWNERSHIP OF THE PROPERTY. IF YOU WOULD LIKE TO OBTAIN ABSOLUTE
OWNERSHIP OF THIS PROPERTY, YOU SHOULD CONTACT A LAWYER FOR
ADVICE.".
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October July 1, 2007.
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- 1863 -
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