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Martin O'Malley, Governor
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S.B. 755
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(I) OWNED OR ACQUIRED BY ANY MEANS BY THE MAYOR
AND CITY COUNCIL OF BALTIMORE; AND
(II) ABANDONED PROPERTY, AS DEFINED IN § 21-1 7(A)(2)
OF THE PUBLIC LOCAL LAWS OF BALTIMORE CITY, OR DISTRESSED PROPERTY,
AS DEFINED IN § 21-17(A)(3) OF THE PUBLIC LOCAL LAWS OF BALTIMORE
CITY.
(2) WITH REGARD TO PROPERTY DESCRIBED UNDER PARAGRAPH
(1) OF THIS SUBSECTION, A LANDLORD MAY REQUEST IN WRITING THAT THE
MAYOR AND CITY COUNCIL OF BALTIMORE ACQUIRE THE REVERSIONARY
INTEREST UNDER THE GROUND RENT FOR THE MARKET VALUE ESTABLISHED
AT THE TIME OF THE ACQUISITION BY THE MAYOR AND CITY COUNCIL OF THE
LEASEHOLD INTEREST UNDER THE GROUND RENT.
8-402.3.
(a) In this section, "ground rent" means a residential lease or sublease in
effect on or after October 1, 2003, that has an initial term of 99 years renewable
forever and creates a leasehold estate subject to the payment of semiannual
installments of an annual lease amount.
(B) THIS SECTION DOES NOT APPLY TO A GROUND RENT ON PROPERTY
THAT IS:
(1) OWNED OR ACQUIRED BY ANY MEANS BY THE MAYOR AND
CITY COUNCIL OF BALTIMORE; AND
(2) ABANDONED PROPERTY, AS DEFINED IN § 21-17(A)(2) OF THE
PUBLIC LOCAL LAWS OF BALTIMORE CITY, OR DISTRESSED PROPERTY, AS
DEFINED IN § 21-17(A)(3) OF THE PUBLIC LOCAL LAWS OF BALTIMORE CITY.
[(b)] (C) (1) A holder of a ground rent that is at least 6 months in arrears
is entitled to reimbursement for actual expenses not exceeding $500 incurred in the
collection of that past due ground rent and in complying with the notice requirements
under § 8-402.2(a) of this subtitle, including:
(i) Title abstract and examination fees;
(ii) Judgment report fees;
(iii) Photocopying and postage fees; and
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- 4461 -
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