This form is used when Optionor grants and assigns the exclusive right and option, but not the obligation, to lease all or a portion of the Option Lands under the identical terms and conditions to purchase an Oil and Gas Lease on Lessor's undivided mineral interest in and under the lands covered in this lease.
Maryland Option to Lease
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Multi-State
Control #:
US-OG-684
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Word;
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How to fill out Option To Lease?
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FAQ
Termination of Tenancy by Landlord - Breach of Lease A landlord may give a written 30-day breach of lease and intent to terminate tenancy notice that states the alleged violation of the lease at any time during the tenancy.
It fully complies with the requirements set forth under Title 8 of the Real Property Article of the Annotated Code of Maryland. This option agreement grants the tenant the right to purchase the rental property during the term of the lease.
Under current state law, landlords may utilize the ?Tenant Holding Over? (THO) eviction action in District Court, under Real Property § 8-402, after expiration of the lease. This statewide statute does not require a landlord to demonstrate any reason for the decision to terminate or non-renew the lease.
A Maryland month-to-month lease is tenancy without a commitment to an end date and can be canceled at any time with 60 days' notice. Either the landlord or tenant can terminate the lease by sending a notice to the other party.
The renter has a chance to buy a property in the future at today's prices. If the renter doesn't have the money saved today to buy the home but is worried the home's value will increase in the next few years, the lease option is a good choice.
A landlord in Maryland has only a few, but very broad reasons for terminating a rental agreement early. The two reasons that a landlord can terminate early are: Tenant or tenant's guests or invitees fail to comply with any term of the rental agreement. Tenant misrepresents any material fact on their rental application.
Maryland state law prohibits the landlord from taking possession of the premises or tenant's property without legal process. Should a lockout occur, the tenant has the right to hire a locksmith, change the locks, re-enter the premises, and hold the landlord responsible for the cost involved.
The timeframe for providing notice vary based on the term of tenancy. For a tenancy longer than 1 month, the landlord must provide at least 90 days notice. Note that local laws may require additional notice requirements.