Ch. 4

Question 1

Common Elements

Answer 1

All the parts of a condominium other than its individual units are common elements. For example, the hallways, lobby, tennis courts, and parking lot.

Question 2

Declaration

Answer 2

A declaration of condominium regime is recorded when creating a condominium along with the bylaws and plat. The resulting condominium regime is registered with the secretary of state.

Question 3

Easement by Prescription

Answer 3

An easement created by open, notorious, continuous, and adverse use of another’s property for the period prescribed of at least 20 years in MD.

easement: A right held by one property owner to make use of the land of another for a limited purpose, as right of passage.

Question 4

Horizontal Property Act

Answer 4

The declaration and bylaws of a condominium must conform to this statute, which is also known as the MD Condominium act.

Question 5

Mean High-Water Mark

Answer 5

A point that represents the maximum rise of a body of water over land. The mean or average high-water mark is the highest elevation of water in the usual, regular, periodic ebb and flow of the tide, not including storms or floods.

Question 6

Project Broker

Answer 6

Developers are required to designate a licensed real estate broker as the project broker for each time-share project. Each time-share project is considered a separate real estate office for purposes of the Brokers Act.

Question 7

Public Offering Statement (POS)

Answer 7

For the initial sale of a condominium, a POS is registered with the secretary of State. The POS includes all the required disclosures, including the declaration, bylaws, and regulations. A purchaser will be provided a 15-day cancellation period following receipt of the POS. The initial sale of a time-share also requires the offering of a POS followed by a 7-day cancellation period.

Question 8

Regime

Answer 8

The plan of organization in which condominium ownership is subject. A condominium regime is governed by a council of unit owners.

Question 9

Squatter’s Rights

Answer 9

Maryland rejects squatters’ rights. Squatters acquire no claim to land merely by squatting on it; they are trespassers.

Question 10

Tenants by the Entirety

Answer 10

Presumed to be how a legally married couple takes title to a property. If either spouse were to pass away, the surviving spouse is now an owner in severalty. There are no rights to petition for termination of this co-ownership.

Question 11

Time-Sharing

Answer 11

In MD there are two principal forms of time-sharing: the right-to-use (called time-share license), and the purchase-of-interest (called a time-share estate).