Md. Code, Real Property § 10-402
This is the official text of Md. Code, Real Property § 10-402, part of Maryland’s Code, Real Property — governs real estate transactions and landlord-tenant law.
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§10–402.
Official statutory text
A recorded instrument, recorded modification, or any amendment of a recorded instrument or recorded modification creating an option to purchase property, or any memorandum of option recorded under § 3-101(f) of this article ceases to be actual or constructive notice to any person or to put any person on inquiry as to existence or exercise of the option, if:
(1) The instrument according to its terms has expired;
(2) One year has elapsed since the time of expiration; and
(3) No grant or other instrument has been recorded showing that the option has been exercised.
(1) The instrument according to its terms has expired;
(2) One year has elapsed since the time of expiration; and
(3) No grant or other instrument has been recorded showing that the option has been exercised.
Status: reserved · Read it on the official government site
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