Maryland § 14-510
Full text of Maryland Maryland Code § 14-510, with citation guidance and answers to common questions.
§ 14-510.
(a) A nonprofit organization operating an affordable housing land trust that gives up or loses its nonprofit status may no longer operate an affordable housing land trust under the terms of this subtitle.
(b) A nonprofit organization operating an affordable housing land trust may transfer its interest in any affordable housing land trust agreement to another affordable housing land trust, provided that the nonprofit organization does not receive any financial or other valuable compensation for the transfer other than compensation for incidental costs associated with the transfer.
(c) If a nonprofit organization operating an affordable housing land trust gives up or loses its nonprofit status and does not transfer its interest in an affordable housing land trust agreement as provided in subsection (b) of this section, the affordable housing land trust agreement is abrogated and any reversionary interest contained in the agreement or any provision for the sharing of proceeds becomes unenforceable.
(d) If an affordable housing land trust agreement becomes unenforceable, the title holder to the property obtains fee simple title to the property without restriction.
Frequently Asked Questions About Maryland § 14-510
What does Maryland Code § 14-510 cover?
Section 14-510 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 § 14-510?
A common citation format is "Maryland Code § 14-510" (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 § 14-510 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.