Maryland Code, BUSINESS OCCUPATIONS AND PROFESSIONS 10.5-101
Terms Used In Maryland Code, BUSINESS OCCUPATIONS AND PROFESSIONS 10.5-101
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) (1) “Land professional” means a person that, acting on the person’s own behalf or on behalf of a prospective lessee or buyer, negotiates with a property owner for the acquisition of mineral rights in oil or gas in the State.
(2) “Land professional” does not include a person that negotiates for the acquisition or divestiture of a lessee’s interest in an existing lease for mineral rights in oil or gas.
(c) (1) “Mineral rights in oil or gas” means property rights that allow the holder of the rights to enter onto or under the property of another person for the extraction of crude oil, natural gas, or the constituents of crude oil or natural gas.
(2) “Mineral rights in oil or gas” includes an oil or gas lease.