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2017 Maryland Code
Real Property
Title 14 - Miscellaneous Rules
Subtitle 5 - Affordable Housing Land Trusts
§ 14-508. Reversionary rights
Universal Citation: MD Real Prop Code § 14-508 (2017)
- The reversionary rights of an affordable housing land trust as set forth in the affordable housing land trust agreement are limited to provisions that relate to:
- (1) The transfer of the property to a person who is not a party to the agreement or a person who does not meet the conditions set forth in the affordable housing land trust agreement;
- (2) The possession of the property by a person who does not meet the conditions set forth in the affordable housing land trust agreement;
- (3) The transfer of an interest in the property to a person who does not meet the conditions set forth in the affordable housing land trust agreement;
- (4) The waste, destruction, or abandonment of the property; or
- (5) The failure to comply with any financial provision in the affordable housing land trust agreement.
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