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Martin O'Malley, Governor
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S.B. 511
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Article - Real Property
Section 10-705
Annotated Code of Maryland
(2003 Replacement Volume and 2006 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Real Property
10-705.
(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.
(2) "CONSERVATION EASEMENT" MEANS AN EASEMENT,
COVENANT, RESTRICTION, OR CONDITION ON REAL PROPERTY, INCLUDING AN
AMENDMENT TO AN EASEMENT, COVENANT, RESTRICTION, OR CONDITION AS
PROVIDED FOR IN § 2-118 OF THIS ARTICLE AND OWNED BY:
(I) THE MARYLAND ENVIRONMENTAL TRUST;
(II) THE MARYLAND HISTORICAL TRUST;
(III) THE MARYLAND AGRICULTURAL LAND PRESERVATION
FOUNDATION;
(IV) THE MARYLAND DEPARTMENT OF NATURAL
RESOURCES; OR
(V) A LAND TRUST.
(3) "LAND TRUST" MEANS AN ORGANIZATION THAT:
(I) IS A QUALIFIED ORGANIZATION UNDER § 170(H)(3) OF
THE INTERNAL REVENUE CODE AND REGULATIONS ADOPTED UNDER THAT
SECTION; AND
(II) HAS EXECUTED A COOPERATIVE AGREEMENT WITH THE
MARYLAND ENVIRONMENTAL TRUST.
(B) (1) A CONTRACT FOR THIS SECTION APPLIES TO THE SALE OF
PROPERTY ENCUMBERED BY A CONSERVATION EASEMENT IS NOT
ENFORCEABLE BY THE SELLER UNLESS:.
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- 4293 -
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