Sec. 11C-13. Payment instead of extended lease.
Montgomery County, Md., Code § 11C-13 (2026)
Sec. 11C-13. Payment instead of extended lease.LinkCopy Citation
(a)
Payment required. A developer must pay to a low-income senior or low-income handicapped tenant an amount equal to three (3) months' rent for the unit of the tenant if:
(1)
The tenant chooses not to accept a lifetime extended lease; or
(2)
The developer does not offer the tenant a lifetime extended lease because the number of extended lease units exceeds twenty (20) percent of the cooperative units.
(b)
Payment. A developer must pay a tenant under this section before the following, whichever occurs first:
(1)
An increase in the rent of the tenant or a change in a material term in the lease; or
(2)
Thirty (30) days after the developer makes the last extended lease with an eligible tenant.