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.
Structure Maryland Statutes
Title 14 - Miscellaneous Rules
Subtitle 5 - Affordable Housing Land Trusts
Section 14-502 - Affordable Housing Land Trust Agreement -- Nature; Construction
Section 14-503 - Affordable Housing Land Trust
Section 14-504 - Affordable Housing Land Trust -- Activities
Section 14-505 - Affordable Housing Land Trust Agreement -- in General
Section 14-506 - Right to Repurchase
Section 14-507 - Possession, Sale, and Transfer of Property
Section 14-508 - Reversionary Rights
Section 14-509 - Tax Assessment