Property Ownership
In Maryland, what is 'ground rent'?
AA tax assessed on agricultural land
BA leasehold arrangement where a homeowner pays annual rent on the land beneath their home✓ Correct
CA fee paid to the homeowners association
DRent charged for a parking space
Explanation
Ground rent is unique to Maryland (especially Baltimore area). The homeowner owns the improvements but leases the land from a ground rent holder, paying a small annual rent for the land.
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- In Maryland, ground rent can be redeemed (extinguished) by the homeowner by:Property Ownership
- Maryland's Ground Rent system, historically found in Baltimore City, involves:Property Ownership
- Under Maryland's 2007 Ground Rent Reform Act, homeowners with ground rent leases may:Property Ownership
- Maryland's ground rent system allows homeowners to redeem (extinguish) the ground rent by paying:Escrow & Title (alternative)
- Maryland's ground lease system is unique because the ground rent owner may:Property Ownership (alternative)
- Montgomery County, Maryland's rent stabilization ordinance limits annual rent increases to:Property Management
- In Maryland, Prince George's County's rent stabilization program limits annual increases to:Property Management
- A Maryland investment property produces $4,200 per month gross rent. Annual operating expenses are $18,000. The NOI is:Real Estate Math
Key Terms to Know
Gross Rent Multiplier (GRM)
A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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