State Codes and Statutes
Statutes > Maryland > Real-property > Title-14 > Subtitle-5 > 14-508§ 14-508. Reversionary rights.
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.
[2010, chs. 609, 610.]
