<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".03" citation="COMAR 18.15.01.03" title_num="18" subtitle_num="15" chapter_num="01" heading="Calculation of Redemption Amount.">
  <paragraph num="A.">
    <text>The Department shall:</text>
    <paragraph num="(1)">
      <text>Calculate the ground rent redemption amount as if no ground lease payments have been made by or on behalf of the tenant to the ground lease holder during the 3 years immediately before the filing of the documentation required by Regulation .02 of this chapter; and</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Reduce the ground rent redemption amount if the tenant provides proof that ground lease payments have been made by or on behalf of the tenant to the ground lease holder during the 3 years immediately before the filing of the documentation required by Regulation .02 of this chapter.</text>
    </paragraph>
  </paragraph>
  <paragraph num="B.">
    <text>If a tenant is unable to document when the ground lease was originally executed or created, the Department shall calculate the redemption amount using the formula set forth in Real Property Article, §8-804(b)(2)(i)3, Annotated Code of Maryland.</text>
  </paragraph>
</regulation>