Section 707 - Property certificate. - Maryland Statutes

§ 4A-707. Property certificate.
 

(a)  Department may require certificate.- The Department shall require a limited liability company, limited partnership, partnership, corporation, or business trust to submit with the articles of merger a property certificate for each county where a merging limited liability company, partnership, limited partnership, corporation, or business trust other than the successor owns an interest in land. 

(b)  When certificate not required.- The property certificate is not required with respect to any property in which the only interest owned by the merging limited liability company, partnership, limited partnership, corporation, or business trust is a security interest. 

(c)  Form and number.- The property certificate: 

(1) Shall be in the form and number of copies that the Department requires; and 

(2) May include the certificate of the Department required by § 4A-706 of this subtitle. 

(d)  Contents.-  

(1) The property certificate shall provide a deed reference or other description sufficient to identify the property. 

(2) The Department shall: 

(i) Indicate on the property certificate the time the articles of merger are accepted for record; and 

(ii) Send a copy of the property certificate to the chief assessor of the county where the property is located. 

(e)  Effect of defect.- A transfer, vesting, or devolution of title to the property is not invalidated or otherwise affected by any error or defect in the property certificate, failure to file the property certificate, or failure by the Department to act on the property certificate. 
 

[1992, ch. 536; 1997, ch. 654, § 2.]