2020 Maryland Statutes
Real Property
Title 10 - Sales of Property
Subtitle 4 - Recorded Land Contracts
Section 10-402 - Recorded Options as Notice

    A recorded instrument, recorded modification, or any amendment of a recorded instrument or recorded modification creating an option to purchase property, or any memorandum of option recorded under § 3-101(f) of this article ceases to be actual or constructive notice to any person or to put any person on inquiry as to existence or exercise of the option, if:

        (1)    The instrument according to its terms has expired;

        (2)    One year has elapsed since the time of expiration; and

        (3)    No grant or other instrument has been recorded showing that the option has been exercised.

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