Maryland Code, LOCAL GOVERNMENT 1-1406
Terms Used In Maryland Code, LOCAL GOVERNMENT 1-1406
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Devise: To gift property by will.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- including: means includes or including by way of illustration and not by way of limitation. See
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(1) acquire real property or rights or interests in real property, directly or through a person or governmental entity, by gift, devise, transfer, exchange, foreclosure, purchase, or otherwise on terms and conditions and in a manner the authority considers proper;
(2) own property in the authority’s name, including tax foreclosed property and property without clear title;
(3) sell, lease as lessor, transfer, and dispose of the authority’s interest in property;
(4) procure insurance against loss in connection with the property, assets, or activities of the authority; and
(5) execute deeds, mortgages, contracts, leases, purchases, or other agreements regarding the property of the authority.
(b) Property purchased, owned, or sold under this section may not be located outside the jurisdiction of the local government in which the authority is located.
(c) (1) An authority may quiet title or foreclose on a property in which it holds an interest that is not fee simple title by:
(i) conducting an examination of title to determine the identity of any person possessing a claim or interest in the property; and
(ii) filing a complaint to quiet title in accordance with Title 14, Subtitle 6 of the Real Property Article.
(2) An authority may join in a single complaint to quiet title or foreclose on one or more parcels of real property.