Maryland Code, CORPORATIONS AND ASSOCIATIONS 4A-707
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 4A-707
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County: means a county of the State or Baltimore City. See
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(b) The property certificate is not required with respect to any property in which the only interest owned by the merging limited liability company, partnership, limited partnership, corporation, or business trust is a security interest.
(c) The property certificate:
(1) Shall be in the form and number of copies that the Department requires; and
(2) May include the certificate of the Department required by § 4A-706 of this subtitle.
(d) (1) The property certificate shall provide a deed reference or other description sufficient to identify the property.
(2) The Department shall:
(i) Indicate on the property certificate the time the articles of merger are accepted for record; and
(ii) Send a copy of the property certificate to the chief assessor of the county where the property is located.
(e) A transfer, vesting, or devolution of title to the property is not invalidated or otherwise affected by any error or defect in the property certificate, failure to file the property certificate, or failure by the Department to act on the property certificate.