2013 Maryland Code
NATURAL RESOURCES
§ 3-2A-08 - Property of land trust
(a) Sale or transfer. -- A land trust may, with the approval of the Trust, subsequently sell or transfer the acquired property to a third party.
(b) Easements. -- As a condition of the grant, the Trust may require the dedication of a conservation easement on or reversionary interest in the property in favor of the Trust.
(c) Reimbursement of Grant Fund. --
(1) Grants awarded to land trusts under this subtitle may be fully or partially reimbursed to the Land Trust Grant Fund under the general conditions set forth in paragraph (2) of this subsection, to be further specified by the Trust in the grant conditions.
(2) When land or an interest in land is acquired by the land trust with a grant under this subtitle, on resale of the property a proportion of the moneys from the resale shall be repaid to the Land Trust Grant Fund as may be provided in the grant conditions.
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