Ch. 3

2007 Laws of Maryland

(II)     MORE THAN 80% 90% 80% OF THE TOTAL INTEREST IN
CAPITAL AND PROFITS OF A PARTNERSHIP, ASSOCIATION, LIMITED LIABILITY
COMPANY, OR OTHER UNINCORPORATED FORM OF DOING BUSINESS; OR

(III)    MORE THAN 80% 90% 80% OF THE BENEFICIAL
INTEREST IN A TRUST.

(3)      "FINAL TRANSFER" MEANS THAT TRANSFER OF ANY PORTION
OF A CONTROLLING INTEREST THAT COMPLETES THE TRANSFER OF A
CONTROLLING INTEREST IN A REAL PROPERTY ENTITY.

(4)      (I) "Plan of transfer" means an intentional plan

OR PROGRAM TO TRANSFER THE CONTROLLING INTEREST IN A REAL PROPERTY
ENTITY.

(II) "Plan of transfer" does not include a series of
sales of shares of a publicly traded entity.

(5)      (i) "real property" means real property located
in the State.

(ii) "Real property" does not include:

1.       a leasehold, unless created by a lease
that is required to be recorded under § 3-101(a) of the real
property article; or

2.       any mortgage, deed of trust, or other lien
on or security interest in real property that secures an
indebtedness.

(6)      (i) "real property entity" means a corporation,
partnership, association, limited liability company, limited liability
partnership, other unincorporated form of doing business, or trust
that directly or beneficially owns real property that:

1.        constitutes at least 80% 90% 80% of the
value of its assets; and

2.        has an aggregate value of at least
$1,000,000.

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