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Ch. 289
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2007 Laws of Maryland
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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.
Approved by the Governor, May 8, 2007.
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CHAPTER 290
(House Bill 580)
AN ACT concerning
Ground Rents - Limitation of Actions - Registry of Properties Subject to
Ground Leases
FOR the purpose of authorizing the recordation of a certain ground lease
extinguishment certificate under certain circumstances; providing that a ground
rent is extinguished if there is no demand or payment for more than a certain
number of years of any specific ground rent under certain circumstances;
requiring the State Department of Assessments and Taxation to maintain and
update regularly on line registries of landlords and an on-line registry of
properties that are subject to ground leases; requiring a landlord ground lease
holder to apply to register a ground lease with the Department by submitting a
certain registration application form and a certain fee; requiring the
Department to register a ground lease under certain circumstances; requiring a
landlord ground lease holder to notify the Department of certain information
after a ground lease is registered; requiring a landlord ground lease holder to
apply to register a ground lease by a certain date; providing for the
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