This notice serves as an important reminder that any ground rent lease holder must register that ground lease with the Department before September 30, 2010 or it is extinguished under the law. Registration filings must be either physically delivered to the Department’s offices at 301 W. Preston Street by the close of business on September 29, 2010, or be postmarked before September 30, 2010.
Effective October 1, 2007, a new law enacted by
the 2007 session of the Maryland General Assembly requires all
ground lease holders (owners) of ground rents to register certain
information with this Department. A ground lease must be
registered with the Department before September 30, 2010 or the
interest of the ground lease holder is extinguished and the ground
rent is no longer payable.
There is also a fee for registering a ground rent which increases
in the second year and third year for registration. A ground
lease holder under legal disability has 2 years after the removal
of the disability to register the ground lease.
* The legal basis for this is found in: Real Property Article, §§3-102(a), 8-107, 8-701 to 8-709 (2007 Supplement).
Note: If
you are the owner of a residential property subject to a ground
rent where there has been no communication with the owner of the
ground lease for three (3) years, and wish to file for a redemption
then visit the Ground Rent Redemption
page.