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Maryland Code, Real Property § 14-301

Current as of January 01, 2025 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Maryland Code, Real Property § 14-301 - last updated January 01, 2025 | https://codes.findlaw.com/md/real-property/md-code-real-prop-sect-14-301/

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