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S.B. 622
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Martin O'Malley, Governor
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(3) (2) A REDEMPTION OF THE GROUND LEASE; AND
(4) (3) ANY OTHER INFORMATION THE DEPARTMENT
REQUIRES.
(B) FOR EACH NOTIFICATION MADE UNDER THIS SECTION, THE
LANDLORD SHALL PAY A $5 FEE.
8-706.8-707.
(A) (1) FOR A GROUND LEASE CREATED BEFORE OCTOBER 1, 2007,
THE LANDLORD SHALL APPLY TO REGISTER THE EXCEPT AS PROVIDED IN
SUBSECTION (B) OF THIS SECTION, A GROUND LEASE HOLDER SHALL REGISTER
A GROUND LEASE UNDER THIS SUBTITLE BEFORE SEPTEMBER 30, 2010.
(2) FOR A GROUND LEASE CREATED ON OR AFTER OCTOBER 1,
2007, THE LANDLORD SHALL APPLY TO REGISTER THE GROUND LEAES UNDER
THIS SUBTITLE WITHIN 6 MONTHS OF THE DATE OF THE EXECUTION OF THE
GROUND LEASE.
(B) IF A LANDLORD GROUND LEASE HOLDER IS UNDER A LEGAL
DISABILITY AT THE EXPIRATION OF THE REGISTRATION PERIOD UNDER
SUBSECTION (A) OF THIS SECTION, THE LANDLORD GROUND LEASE HOLDER
HAS 2 YEARS AFTER THE REMOVAL OF THE DISABILITY TO APPLY TO REGISTER
THE GROUND LEASE.
8-707. 8-708.
(A) IF A LANDLORD GROUND LEASE HOLDER DOES NOT SATISFY THE
REQUIREMENTS OF § 8-706 8-707 OF THIS SUBTITLE, THE REVERSIONARY
INTEREST OF THE LANDLORD GROUND LEASE HOLDER UNDER THE GROUND
LEASE IS EXTINGUISHED AND GROUND RENT IS NO LONGER PAYABLE TO THE
LANDLORD GROUND LEASE HOLDER.
(B) IF A GROUND LEASE IS EXTINGUISHED UNDER THIS SECTION, ON
APPLICATION OF A LEASEHOLD TENANT, THE DEPARTMENT SHALL ISSUE TO
THE LEASEHOLD TENANT A GROUND LEASE EXTINGUISHMENT CERTIFICATE.
(C) THE EXTINGUISHMENT OF THE GROUND LEASE IS EFFECTIVE TO
CONCLUSIVELY VEST A FEE SIMPLE TITLE IN THE LEASEHOLD TENANT, FREE
AND CLEAR OF ANY AND ALL RIGHT, TITLE, OR INTEREST OF THE LANDLORD
GROUND LEASE HOLDER, ANY LIEN OF A CREDITOR OF THE LANDLORD GROUND
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- 4361 -
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