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Ch. 291
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Martin O'Malley, Governor
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transfer any funds that remain uncollected after 20 years to the State General Fund at
the end of each fiscal year.
8-110.1.
(A) (1) BEFORE A VOLUNTARY TRANSFER OF A REDEEMABLE
GROUND RENT TO A THIRD PARTY MAY OCCUR, THE LANDLORD SHALL GIVE THE
TENANT NOTICE OF THE TENANT'S RIGHT TO REDEEM THE GROUND RENT
UNDER § 8-110 OF THIS SUBTITLE AND OFFER THE TENANT THE OPPORTUNITY
TO EXERCISE THE RIGHT TO REDEEM.
(2) THE NOTICE SHALL STATE:
(I) THE REDEMPTION AMOUNT CALCULATED IN
ACCORDANCE WITH § 8-110(B)(2) OF THIS SUBTITLE; AND
(II) SUBJECT TO § 8-111.1 OF THIS SUBTITLE, THE AMOUNT
OF ANY BACK RENT DUE.
(3) NOTICE SHALL BE GIVEN BY CERTIFIED MAIL, RETURN
RECEIPT REQUESTED, AND BY FIRST CLASS MAIL TO THE LAST KNOWN
ADDRESS OF THE TENANT AND, IF DIFFERENT, TO THE ADDRESS LISTED IN THE
RECORDS OF THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION.
(B) (1) THE TENANT SHALL HAVE 30 DAYS AFTER THE DATE OF
RECEIPT OF THE NOTICE TO NOTIFY THE LANDLORD OF THE TENANT'S INTENT
TO EXERCISE THE RIGHT TO REDEEM.
(2) IF THE TENANT DOES NOT RESPOND TO THE NOTICE OR
NOTIFIES THE LANDLORD THAT THE TENANT WAIVES THE RIGHT TO REDEEM
WITHIN 30 DAYS AFTER RECEIPT OF THE NOTICE, THE LANDLORD MAY
PROCEED WITH THE TRANSFER OF THE GROUND RENT TO A THIRD PARTY.
(C) (1) IF THE TENANT NOTIFIES THE LANDLORD WITHIN THE
30-DAY PERIOD OF THE TENANT'S INTENT TO EXERCISE THE RIGHT TO REDEEM,
THE TENANT SHALL HAVE AN ADDITIONAL 30 DAYS AFTER THE DATE OF
MAILING THE NOTIFICATION TO THE LANDLORD TO TENDER THE REDEMPTION
AMOUNT AND ANY BACK RENT DUE.
(2) WITHIN 30 DAYS AFTER RECEIPT OF THE REDEMPTION
AMOUNT AND ANY BACK RENT DUE, THE LANDLORD SHALL PROVIDE TO THE
TENANT A DEED OF REDEMPTION OF GROUND RENT.
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- 1889 -
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