Terms Used In Maine Revised Statutes Title 36 Sec. 4641-B

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Bureau: means the Bureau of Revenue Services, which may be referred to as "Maine Revenue Services. See Maine Revised Statutes Title 36 Sec. 111
• Controlling interest: means the following. See Maine Revised Statutes Title 36 Sec. 4641
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Deed: means a written instrument whereby the grantor conveys to the grantee title in whole or in part to real property. See Maine Revised Statutes Title 36 Sec. 4641
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72
• Person: means an individual, firm, partnership, association, society, club, corporation, financial institution, estate, trust, business trust, receiver, assignee or any other group or combination acting as a unit, the State or Federal Government or any political subdivision or agency of either government. See Maine Revised Statutes Title 36 Sec. 111
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Real property: includes , but is not limited to, improvements such as buildings, mobile homes other than stock-in-trade, lines of electric light and power companies and pipelines and other things constructed or situated on land when the owner of the improvements is not the landowner. See Maine Revised Statutes Title 36 Sec. 4641
• Return: means any document, digital file or electronic data transmission containing information required by this Title to be reported to the State Tax Assessor. See Maine Revised Statutes Title 36 Sec. 111
• Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111
• Value: means the amount of the actual consideration for real property, except that in the case of a gift, or a contract or deed with nominal consideration or without stated consideration, or in the case of the transfer of a controlling interest in an entity with a fee interest in real property when the consideration for the real property cannot be determined, "value" is to be based on the estimated price a property will bring in the open market and under prevailing market conditions in a sale between a willing seller and a willing buyer, both conversant with the property and with prevailing general price levels. See Maine Revised Statutes Title 36 Sec. 4641
• Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72