Maryland § 14-507
Full text of Maryland Maryland Code § 14-507, with citation guidance and answers to common questions.
§ 14-507.
An affordable housing land trust agreement may authorize the affordable housing land trust to take possession of the property and any improvements and sell or transfer the specified interest in the property if:
(1) A condition defined in the affordable housing land trust agreement authorizing the action is met;
(2) The sale is made under Title 14, Chapter 300 of the Maryland Rules;
(3) The owner of the interest in the property retains the right to any proceeds of a sale as set forth in the affordable housing land trust agreement; and
(4) The right of the owner to the proceeds has precedence over any claim by the affordable housing land trust to the proceeds of the sale.
Frequently Asked Questions About Maryland § 14-507
What does Maryland Code § 14-507 cover?
Section 14-507 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 14-507?
A common citation format is "Maryland Code § 14-507" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 14-507 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.