Maine Revised Statutes Title 13 Sec. 1745 – Property classification of cooperative interest
Current as of: 2023 | Check for updates
|
Other versions
1. Personal property. A cooperative interest is personal property.
[PL 1993, c. 300, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 13 Sec. 1745
- Cooperative interest: means the ownership interest in a cooperative affordable housing corporation that is evidenced by a membership share. See Maine Revised Statutes Title 13 Sec. 1742
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: All property that is not real property.
2. Nonseverable interest. The possessory interest evidenced by a proprietary lease is a part of and may not be severed from a cooperative interest.
[PL 1993, c. 300, §1 (NEW).]
SECTION HISTORY
PL 1993, c. 300, §1 (NEW).