Maryland Option and Site Lease (Telecommunication Facilities)
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How to fill out Option And Site Lease (Telecommunication Facilities)?
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FAQ
What is a MLO? It's a contract between a seller and a buyer that allows the buyer (you) to control the operations of the asset and the future sale of the property. The MLO consists of two separate documents: the master lease and the option to purchase.
An automatic renewal provision in a lease must provide space for the tenant to give written acknowledgment agreeing to the provision. If the landlord can't show your signature, initials, or another mark acknowledging that provision, the landlord can't enforce an automatic renewal of the lease.
You should contact the owner listed on the registration form regarding payment of the ground rent or to inform the owner that you would like to redeem your ground rent. It is also your responsibility to notify the ground lease holder if you change your address or transfer ownership of the property.
A Maryland month-to-month lease is tenancy without a commitment to an end date and can be canceled at any time with 60 days' notice. Either the landlord or tenant can terminate the lease by sending a notice to the other party.
Tenants are only required to give the following lengths of notice: Week-to-week = 30-day notice. Month-to-Month = 30-day notice. Year-to-Year (Non-Farm) = 90-day notice.
You may find yourself in a new periodic lease If the landlord allows you to stay after the original lease has expired, you enter into a month-to-month lease (unless the original lease said something different). If you were originally in a week-to-week lease, the holdover period will also be on a week-to-week basis.
Maryland state law now says that late fees can only be charged after the rent is 7 days late. So, if rent is due on the 1st but still has the grace period until the 3rd, that means your late fee cannot be charged until 7 days after the grace period ends.
It fully complies with the requirements set forth under Title 8 of the Real Property Article of the Annotated Code of Maryland. This option agreement grants the tenant the right to purchase the rental property during the term of the lease.