Maryland Code, COMMERCIAL LAW 12-1102
Terms Used In Maryland Code, COMMERCIAL LAW 12-1102
- 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
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(1) A “retail sale”, as defined in § 12-601(s) of this title;
(2) An “installment sale agreement”, as defined in § 12-601(m) of this title; or
(3) A “security interest”, as defined in § 1-201(37) of this article.
(b) This subtitle does not apply to:
(1) A rental-purchase agreement made primarily for business, commercial, or agricultural purposes, or made with governmental agencies, instrumentalities, or organizations;
(2) A rental of a safe deposit box;
(3) A lease or bailment of personal property that:
(i) Is incidental to the rental of real property; and
(ii) Provides that the consumer has no option to purchase the rented real property; or
(4) A lease of an automobile.