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§ 12-209. Expenses Incidental To Transfer To A Public Agency

As soon as feasible, after the date of payment of the purchase price or the date of deposit in court of funds to satisfy the award of compensation in a condemnation proceeding to acquire land, whichever is earlier, the displacing agency shall reimburse the owner to the extent the displacing agency deems fair and reasonable, for expenses he necessarily incurred for:

(1) Recording fees, transfer taxes, and similar expenses incidental to granting the real property to the displacing agency, as provided in § 12-106(b)(4) of this title;

(2) Penalty costs for prepayment of any preexisting recorded mortgage entered into in good faith encumbering the real property; and

(3) The pro rata portion of real property taxes allocable to a period subsequent to the date of vesting title in the displacing agency, or the effective date of possession of the real property by the displacing agency, whichever is earlier, in accordance with the provisions of § 12-110 of this title.

History

An. Code 1957, art. 21, § 12-206.3; 1974, ch. 12, § 2; 1989, ch. 10.

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Local Government
Maryland
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Larry Hogan
Larry Hogan
January 21, 2015 -
Republican
1-410-974-3400
100 State Circle, Annapolis, MD, 21401

Keywords
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real
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payment
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faith
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preexisting
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