LegalFix

§ 14-301. Definitions

MD Real Prop Code § 14-301 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a)    In this subtitle the following words have the meanings indicated unless the context requires otherwise.

(b)    “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” means a lien established in accordance with this subtitle.

(d)    “Claimant” means a broker claiming a broker’s lien under this subtitle.

(e)    “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)    (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” 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” means land, and any improvements on the land, used or intended to be used for a nonresidential purpose.

(i)    “Commercial tenant” means a tenant under a commercial lease.

(j)    “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” means the owner of the commercial property.

LegalFix

Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.

LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.

The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.

You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.

The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.

Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.

We have updated our Terms of Service, Privacy Policy, and Disclosures. By continuing to browse this site, you agree to our Terms of Service, Privacy Policy, and Disclosures.
§ 14-301. Definitions