§ 5-9B-03. Applications; property rights

   (a) Submission of applications. -- The sponsor shall submit applications to appropriate State and local units and consider any recommendations made regarding the applications.

(b) Perpetual easements. -- An easement acquired under this subtitle is perpetual and may not be extinguished or released.

(c) Transferable development rights. --

   (1) In a county with a locally adopted transferable development rights program and with the approval of the county, funds under a program may be used to purchase transferable development rights in the county in accordance with the locally adopted transferable development rights program.

   (2) The right to resell the development right, if any, shall be stated in the instrument of purchase.

   (3) Transferable development rights may be resold only to owners or option purchasers of real property located in priority funding areas, including municipal corporations, within the county in which the rights were purchased.

(d) Recording easements. -- All easement acquisitions must be recorded among the land records where the real property is located.

HISTORY: 2002, ch. 264.