Maryland Code, REAL PROPERTY 8-701
Terms Used In Maryland Code, REAL PROPERTY 8-701
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) “Current ground rent deed of record” means the document that vests title to the reversionary interest in the current ground lease holder.
(c) “Department” means the State Department of Assessments and Taxation.
(d) “Ground lease” means a residential lease or sublease for a term of years renewable forever subject to the payment of a periodic ground rent.
(e) (1) “Ground lease holder” means the holder of the reversionary interest under a ground lease.
(2) “Ground lease holder” includes an agent of the ground lease holder.
(f) “Ground rent” means a rent issuing out of, or collectible in connection with, the reversionary interest under a ground lease.
(g) “Leasehold interest” means the tenancy in real property created under a ground lease.
(h) “Leasehold tenant” means the holder of the leasehold interest under a ground lease.