Sec. 11C-16. Transfer of membership for unit under extended lease.
Montgomery County, Md., Code § 11C-16 (2026)
Sec. 11C-16. Transfer of membership for unit under extended lease.LinkCopy Citation
(a)
Right to transfer. A developer may transfer a membership for a unit under an extended lease after the developer gives:
(1)
The tenant with the extended lease notice of the transfer of the membership; and
(2)
The purchaser of the membership written disclosure that the unit is under an extended lease required under this chapter.
(b)
Continuation of extended lease. If there is a transfer of a membership for a unit under an extended lease, the extended lease continues regardless of cooperative corporate documents that prohibit or restrict occupancy by a person other than the member.