Ground Rent Redemption Loan Program
The Ground Rent Redemption Loan Program was created by the Maryland General Assembly
in 2007 to provide loans to homeowners to buy out (redeem) ground leases. A "ground
lease" is a lease for a term of years (usually 99 years) that is renewable forever
and is subject to the periodic payment of "ground rent" by the leasehold tenant
to the ground lease holder. Ground rents are most prevalent in Baltimore City but
are held in some other counties as well. The program cannot provide
grants for this purpose.