|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Martin O'Malley, Governor
|
|
S.B. 623
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(6) At any time, the tenant may submit to the Department notice that
the tenant is no longer seeking redemption or extinguishment under this subsection.
(7) Upon receipt of the documentation, fees, and where applicable, the
redemption amount and 3 years' back rent to the extent required under this section
and § 8-111.1 of this subtitle, the Department shall issue to the tenant a ground rent
redemption certificate or a ground rent extinguishment certificate, as appropriate.
(8) The redemption or extinguishment of the ground rent is effective to
conclusively vest a fee simple title in the tenant, free and clear of any and all right,
title, or interest of the landlord, any lien of a creditor of the landlord, and any person
claiming by, through, or under the landlord when the tenant records the certificate in
the land records of the county in which the property is located.
(9) The landlord, any creditor of the landlord, or any other person
claiming by, through, or under the landlord may file a claim with the Department in
order to collect all, or any portion of, where applicable, the redemption amount and 3
years' back rent to the extent required under this section and § 8-111.1 of this
subtitle, without interest, by providing to the Department:
(i) Documentation satisfactory to the Department of the
claimant's interest; and
(ii) Payment of a $20 fee, and any expediting fee required under
§ 1-203 of the Corporations and Associations Article.
(10) (i) A landlord whose ground rent has been extinguished may
file a claim with the Baltimore City Director of Finance to collect an amount equal to
the annual rent reserved multiplied by 16.66, which is capitalization at 6 percent, by
providing to the Director:
1. Proof of payment to the landlord by the Department of
back rent under paragraph (9) of this subsection; and
2. Payment of a $20 fee.
(ii) A landlord of abandoned or distressed property condemned
by the Mayor and City Council of Baltimore City whose ground rent has been
redeemed may file a claim with the Baltimore City Director of Finance to collect the
redemption amount, by providing to the Director:
1. Proof of payment to the landlord by the Department of
back rent under paragraph (9) of this subsection; and
2. Payment of a $20 fee.
|
|
|
|
|
|
|
|
|
|
- 4369 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
