|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 289
|
|
|
|
|
|
Martin O'Malley, Governor
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(ii) As a result of the action for possession, the reversionary
owner of the ground rent may own the property in fee, discharged from the lease.]
NOTICE IN BOLDFACE TYPE, AT LEAST AS LARGE AS 14 POINT, IN
SUBSTANTIALLY THE FOLLOWING FORM:
"NOTICE REQUIRED BY MARYLAND LAW
REGARDING YOUR GROUND RENT
THIS PROPERTY (ADDRESS) IS SUBJECT TO A GROUND LEASE. THE ANNUAL
PAYMENT ON THE GROUND LEASE ("GROUND RENT") IS $(DOLLAR AMOUNT),
PAYABLE IN YEARLY OR HALF-YEARLY INSTALLMENTS ON (DATE OR DATES).
THE NEXT GROUND RENT PAYMENT IS DUE (DAY, MONTH, YEAR) IN THE
AMOUNT OF $ (DOLLAR AMOUNT).
THE PAYMENT OF THE GROUND RENT SHOULD BE SENT TO:
(NAME OF GROUND RENT OWNER LEASE HOLDER)
(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.
|
|
|
|
|
|
|
|
|
|
- 1871 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
