Summary of Form Revisions - August 2006

Form #910 — Listing Agreement
Summary of Changes
August 2006

Paragraph 13

  • Deleted " Seller further represents that the Property has not been put up as collateral for any purpose and that language regarding property collateral and that..."

Form #920 — Listing Agreement for for UnImproved Real Property
Summary of Changes
August 2006

  • The Listing Agreement for UnImproved Real Property was updated to mirror the language in the current Listing Agreement for Improved Real Property.
     
  • Paragraphs which were not pertinent to land/lot sales were amended or deleted.

Form #1210 — Lease Amendment
Summary of New Form
August 2006

  • Form 1210 Lease Amendment is designed to be use for rental property in Montgomery County, Maryland.
     
  • First, determine which jurisdiction the property is in because that directs the amount of time needed to meet notice requirements. Refer to the top portion of this form and be sure to send the notice in ample time to meet the jurisdictional requirements.
     
  • After completing the reference information (Date of Lease, Landlord, Tenant, Property, etc.) you will need to determine if you or your client want to increase the rent, extend the lease or do both. It is important to know that if you only increase the rent the lease will become in effect a month-to-month lease. Rent can only be increased once in any given 12 month period. When increasing the rent you must reference the percentage of the voluntary rent guideline for Montgomery County. The Montgomery County Voluntary Rent Guidelines letter issued by the County Executive is issued each year and can be obtained online at http://www.montgomerycountymd.gov.
     
  • The lease can be extended for any period of time as negotiated between the parties.
     
  • The reason this form says that the tenant must respond to the Lease Amendment is to give the Landlord adequate time to prepare the property for a new tenant if the current tenant does not agree to the rent increase and/or lease extension.
     
  • Under the Additional Revised Terms portion, other terms of the lease may be modified. (i.e. adding or deleting a person or pet or other terms as negotiated).

Form #1306 — Unimproved Real Property Sales Contract
Summary of New Form
August 2006

  • The new Unimproved Real Property contract mirrors the revised Regional Sales Contract.
     
  • This new form can now be used in Washington DC as well as Montgomery County as long as the appropriate jurisdictional addendum is attached.

Form #1324 — Acknowledgement of Delivery
Summary of New Form
August 2006

  • This new form is used to acknowledge delivery and receipt of required Homeowner Association documents, Condominium documents, and Cooperative documents in Montgomery County and Montgomery County, Maryland.