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Terms Used In Maryland Code, REAL PROPERTY 8-801

  • 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.
(a) In this subtitle the following words have the meanings indicated.

(b) “Ground lease” means a residential lease or sublease for a term of years renewable forever subject to the payment of a periodic ground rent.

(c) (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.

(d) “Ground rent” means a rent issuing out of, or collectible in connection with, the reversionary interest under a ground lease.

(e) “Leasehold interest” means the tenancy in real property created under a ground lease.

(f) “Leasehold tenant” means the holder of the leasehold interest under a ground lease.