In any case where a residential ground rent is created, the agreement therefor shall:
(i) Be reduced to writing;
(ii) Be in recordable form; and
(iii) Disclose the date, the names of the parties, the ground rent and any future adjustments to it, when such rent is payable, the duration of the agreement and the value of the land at the time the agreement is made. If the parties have so agreed, the agreement shall state the amount for which the ground rent may be redeemed. Such agreement shall be included as a part of the deed or other instrument of transfer.
1975, c. 363.
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