The title to a transferable development right (TDR) acquired by a sponsor shall be recorded jointly in the name of the sponsor or easement grantee and the Rural Legacy Board, and shall be described in detail in the project agreement. Within 30 days of acquisition, the titleholders shall file the TDR in the land records of the local jurisdiction where the land is located, with a copy filed in the Maryland State Archives. A TDR acquired with rural legacy funds shall only be acquired, held, and resold in accordance with the rules of the local TDR program under which it was acquired.