Showing posts with label escrow. Show all posts
Showing posts with label escrow. Show all posts

Thursday, September 30, 2010

Last minute rush to register ground rents.

I love this article's reference to someone dropping off a disk containing hundreds of registration forms. These folks had three years to register. I bet many delayed to the last minute intentionally to punish the State for requiring registration.

But if you are dealing with a ground rent issue, don't count on the registry to be accurate or up-to-date for many months. The better practice is to continue to collect three years of ground rent and hold in escrow.

Wednesday, September 29, 2010

Ground Rents come out of the shadow and into the light

The deadline for registering ground rents is here! By statute, an unregistered ground rent may not be sued upon or foreclosed if not registered with the State Department of Assessents and Taxation. However, the Anne Arundel County litigation by ground rent owners that are contesting the constitutionality of the statute has left settlement companies and title insurers to continue with the old practice--"escrow three years of payments."