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Ch. 289 2007 Laws of Maryland
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2. "GROUND LEASE HOLDER" INCLUDES AN AGENT
OF THE GROUND LEASE HOLDER.
(IV) "GROUND RENT" MEANS A RENT ISSUING OUT OF, OR
COLLECTIBLE IN CONNECTION WITH, THE REVERSIONARY INTEREST UNDER A
GROUND LEASE.
(V) "LEASEHOLD INTEREST" MEANS THE TENANCY IN REAL
PROPERTY CREATED UNDER A GROUND LEASE.
(VI) "LEASEHOLD TENANT" MEANS THE HOLDER OF THE
LEASEHOLD INTEREST UNDER A GROUND LEASE.
(2) (I) THIS SUBSECTION APPLIES TO RESIDENTIAL PROPERTY
THAT WAS OR IS USED, INTENDED TO BE USED, OR AUTHORIZED TO BE USED
FOR FOUR OR FEWER DWELLING UNITS.
(II) THIS SUBSECTION DOES NOT APPLY TO PROPERTY:
1. LEASED FOR BUSINESS, COMMERCIAL,
MANUFACTURING, MERCANTILE, OR INDUSTRIAL PURPOSES, OR ANY OTHER
PURPOSE THAT IS NOT PRIMARILY RESIDENTIAL;
2. IMPROVED OR TO BE IMPROVED BY ANY
APARTMENT, CONDOMINIUM, COOPERATIVE, OR OTHER BUILDING FOR
MULTIFAMILY USE OF GREATER THAN FOUR DWELLING UNITS; OR
3. LEASED FOR DWELLINGS OR MOBILE HOMES
THAT ARE ERECTED OR PLACED IN A MOBILE HOME DEVELOPMENT OR MOBILE
HOME PARK.
(3) A contract for the sale of real property subject to a ground rent
shall contain the following [:
(1) Notice of the existence of the ground rent; and
(2) Notice that if the ground rent is not timely paid the effect may be:
(i) That the reversionary owner of the ground rent may bring
an action for possession against the ground rent tenant under § 8-402.2 of this article;
and
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