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Last page edit 03/17/08
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Conversion to Condominium Ownership The condominium system of separate ownership of the individual units of multi-unit dwellings has become increasingly common since it was introduced in the United States in the 1950's. In Maryland, the owner of any property - an occupied apartment building as well as vacant, unimproved land - may subject that property to condominium ownership by following the procedure prescribed by law. The Maryland Condominium Act (Maryland Code, Real Property, Title 11) regulates many aspects of the condominium form of ownership of property. Of special interest to tenants in multi-unit dwellings that are being converted to condominium ownership - and to the developers who doing the converting - are the portions of the law that govern the tenant's rights to buy his unit; the length of time tenant may remain in his unit if he does not buy it; special benefits for households that include an elderly or handicapped person; information which must be given to a prospective buyer; and the right of local governments to extend certain provisions in order to ease the impact of conversion on existing tenants of the property. Last date legally reviewed: 3/17/08 (PLL/M.A.J.) Source: Baltimore Neighborhoods (BNI) - See main Landlord Tenant section for more information on BNI. Updated by the Maryland State Law Library (MSLL). |
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