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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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REAL PROPERTY |
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TITLE 14. MISCELLANEOUS RULES |
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SUBTITLE 3. COMMERCIAL REAL ESTATE BROKER'S LIEN |
§ 14-301. Definitions
Latest version.
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(a) In general. -- In this subtitle the following words have the meanings indicated unless the context requires otherwise.
(b) Broker. -- "Broker" means:
(1) An individual licensed as, or otherwise authorized to act as, a real estate broker under Title 17 of the Business Occupations and Professions Article; or
(2) A corporation or partnership authorized to provide real estate brokerage services under Title 17 of the Business Occupations and Professions Article.
(c) Broker's lien. -- "Broker's lien" means a lien established in accordance with this subtitle.
(d) Claimant. -- "Claimant" means a broker claiming a broker's lien under this subtitle.
(e) Commercial lease. -- "Commercial lease" means a lease of building floor space intended to be used by the tenant for a nonresidential use whether or not the lease expressly sets forth a use.
(f) Commercial leasing brokerage agreement; brokerage agreement. --
(1) "Commercial leasing brokerage agreement" or "brokerage agreement" means a written agreement between a broker and the owner of commercial property that provides for the payment of a commercial leasing commission by the owner to the broker for services in obtaining a commercial tenant regardless as to whether the broker acted as the agent for the owner or the commercial tenant.
(2) "Commercial leasing brokerage agreement" or "brokerage agreement" includes a written unilateral offer from an owner of commercial property to one or more brokers, including the broker claiming a lien under this subtitle.
(g) Commercial leasing commission; commission. -- "Commercial leasing commission" or "commission" means the compensation payable by the owner of commercial property to a broker for obtaining a commercial tenant under a commercial leasing brokerage agreement.
(h) Commercial property. -- "Commercial property" means land, and any improvements on the land, used or intended to be used for a nonresidential purpose.
(i) Commercial tenant. -- "Commercial tenant" means a tenant under a commercial lease.
(j) Lien property. -- "Lien property" means the commercial property against which a broker's lien is claimed or against which a broker's lien has attached under this subtitle.
(k) Owner. -- "Owner" means the owner of the commercial property.