Those Ground Rent owners who did not register their properties with the government will not have those ground rents automatically extinguished, according to a ruling by the Court of Appeals yesterday.
According to the Baltimore Sun article reporting on the issue:
In a 5-2 decision issued Tuesday, the Court of Appeals held that the provision that took away ground leases that were not registered violates state constitutional rights.
The requirement to register is still there, but there is no longer a penalty if one does not do so.
Most title companies, when conducting settlements, treated ground rents, even if technically extinguished, as if they were still leasehold properties. I wrote about this last September when ground rent registrations were due.
Please feel free to contact me for more information on Baltimore ground rent homes and how ground rent can affect you as a homeowner!
[…] was in response to the ground rent registration law that was overturned last year, where if the ground rent were not registered by a certain date, the […]