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Session Laws, 2007
Volume 803, Page 4358   View pdf image
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2007 Vetoed Bills and Messages
S.B. 622
                        (II) A COMPANY CONTRACTED BY THE GROUND LEASE HOLDER TO MANAGE GROUND LEASES.
(F) "GROUND RENT" MEANS A RENT ISSUING OUT OF, OR COLLECTIBLE
IN CONNECTION WITH, THE REVERSIONARY INTEREST UNDER A GROUND LEASE. (G) "LEASEHOLD INTEREST" MEANS THE TENANCY IN REAL PROPERTY
CREATED UNDER A GROUND LEASE. (H) "LEASEHOLD TENANT" MEANS THE HOLDER OF THE LEASEHOLD
INTEREST UNDER A GROUND LEASE. 8-702. (A) THIS SUBTITLE APPLIES TO RESIDENTIAL PROPERTY THAT WAS OR
IS USED, INTENDED TO BE USED, OR AUTHORIZED TO BE USED FOR FOUR OR
FEWER DWELLING UNITS. (B) THIS SUBTITLE 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.
8-703. (A) THE DEPARTMENT SHALL MAINTAIN AND UPDATE REGULARLY AN
ON-LINE REGISTRIES OF LANDLORDS AND REGISTRY OF PROPERTIES THAT ARE
SUBJECT TO GROUND LEASES. (B) THE DEPARTMENT IS NOT RESPONSIBLE FOR THE COMPLETENESS
OR ACCURACY OF THE CONTENTS OF THE ON-LINE REGISTRY. 8-703. 8-704.
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Session Laws, 2007
Volume 803, Page 4358   View pdf image
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