Section 14-301 - Definitions. - Maryland Statutes

§ 14-301. Definitions.
 

(a)  In general.- In this subtitle the following words have the meanings indicated unless the context requires otherwise. 

(b)  Broker.- "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.- "Broker's lien" means a lien established in accordance with this subtitle. 

(d)  Claimant.- "Claimant" means a broker claiming a broker's lien under this subtitle. 

(e)  Commercial lease.- "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)  Commercial leasing brokerage agreement; brokerage agreement.-  

(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; commission.- "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.- "Commercial property" means land, and any improvements on the land, used or intended to be used for a nonresidential purpose. 

(i)  Commercial tenant.- "Commercial tenant" means a tenant under a commercial lease. 

(j)  Lien property.- "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.- "Owner" means the owner of the commercial property. 
 

[1994, ch. 3, § 13; ch. 516; 2002, ch. 10, § 19.]