There is a newer version
of
this Section
2017 Maryland Code
Real Property
Title 14 - Miscellaneous Rules
Subtitle 5 - Affordable Housing Land Trusts
§ 14-507. Possession, sale, and transfer of property
Universal Citation: MD Real Prop Code § 14-507 (2017)
- An affordable housing land trust agreement may authorize the affordable housing land trust to take possession of the property and any improvements and sell or transfer the specified interest in the property if:
- (1) A condition defined in the affordable housing land trust agreement authorizing the action is met;
- (2) The sale is made under Title 14, Chapter 300 of the Maryland Rules;
- (3) The owner of the interest in the property retains the right to any proceeds of a sale as set forth in the affordable housing land trust agreement; and
- (4) The right of the owner to the proceeds has precedence over any claim by the affordable housing land trust to the proceeds of the sale.
Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
