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Section 14-301 - Definitions — Maryland Law | CourtGPT
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  7. Section 14-301 - Definitions
Maryland Legal Code

Section 14-301 - Definitions

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(a) In this subtitle the following words have the meanings indicated unless the context requires otherwise. (b) 'Broker' means: (1) An individual licensed as, or otherwise authorized to act as, a real estate broker under Title 17 of the Business Occupations and Professions Article; or (2) A corporation or partnership authorized to provide real estate brokerage services under Title 17 of the Business Occupations and Professions Article. (c) 'Broker’s lien' means a lien established in accordance with this subtitle. (d) 'Claimant' means a broker claiming a broker’s lien under this subtitle. (e) 'Commercial lease' means a lease of building floor space intended to be used by the tenant for a nonresidential use whether or not the lease expressly sets forth a use. (f) (1) 'Commercial leasing brokerage agreement' or 'brokerage agreement' means a written agreement between a broker and the owner of commercial property that provides for the payment of a commercial leasing commission by the owner to the broker for services in obtaining a commercial tenant regardless as to whether the broker acted as the agent for the owner or the commercial tenant.

a commercial leasing commission by the owner to the broker for services in obtaining a commercial tenant regardless as to whether the broker acted as the agent for the owner or the commercial tenant. (2) 'Commercial leasing brokerage agreement' or 'brokerage agreement' includes a written unilateral offer from an owner of commercial property to one or more brokers, including the broker claiming a lien under this subtitle. (g) 'Commercial leasing commission' or 'commission' means the compensation payable by the owner of commercial property to a broker for obtaining a commercial tenant under a commercial leasing brokerage agreement. (h) 'Commercial property' means land, and any improvements on the land, used or intended to be used for a nonresidential purpose. (i) 'Commercial tenant' means a tenant under a commercial lease. (j) 'Lien property' means the commercial property against which a broker’s lien is claimed or against which a broker’s lien has attached under this subtitle. (k) 'Owner' means the owner of the commercial property.