<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".04" citation="COMAR 05.22.01.04" title_num="05" subtitle_num="22" chapter_num="01" heading="Form of Notice and Counteroffer.">
  <paragraph num="A.">
    <text>The notice delivered to tenants at the commencement of the tenant’s exclusive negotiation period shall contain, at minimum, the following information:</text>
    <paragraph num="(1)">
      <text>The material terms that the owner would agree to incorporate into a contract of sale with the tenant;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>A conspicuous statement that the notice is a solicitation of an offer to purchase and is not intended as and may not be construed as a binding contract of sale; and</text>
    </paragraph>
    <paragraph num="(3)">
      <text>Any information regarding deadlines for the tenant to submit an offer to purchase, including the duration of the tenant’s exclusive negotiation period.</text>
    </paragraph>
  </paragraph>
  <paragraph num="B.">
    <text>The material terms stated in the notice delivered to tenants under this chapter:</text>
    <paragraph num="(1)">
      <text>Shall be commercially reasonable and made in good faith;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Shall adhere to generally accepted residential real estate practices; and</text>
    </paragraph>
    <paragraph num="(3)">
      <text>May not include restrictions on financing methods or the right of inspection.</text>
    </paragraph>
  </paragraph>
  <paragraph num="C.">
    <text>The notice delivered to tenants under this chapter shall be in the form provided in Appendix A of this subtitle.</text>
  </paragraph>
  <paragraph num="D.">
    <text>A counteroffer delivered to tenants under Real Property Article, §8-119(c)(5)(ii), Annotated Code of Maryland, shall be in the form provided in Appendix B of this subtitle.</text>
  </paragraph>
  <paragraph num="E.">
    <text>The Office shall make the forms provided in Appendix A and Appendix B of this subtitle available on its public website in a format allowing residential rental property owners to populate the blank sections of the forms, download the forms, and print the forms for delivery to tenants.</text>
  </paragraph>
  <paragraph num="F.">
    <text>The Office may, from time to time, with the approval of the Secretary, edit or amend the forms provided in Appendix A and Appendix B of this subtitle to facilitate compliance with Real Property Article, §§8-119(c) and 8-120, Annotated Code of Maryland, or other applicable law, as appropriate.</text>
  </paragraph>
</regulation>