Maine Revised Statutes Title 14 Sec. 6032 – Maximum security deposit
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Terms Used In Maine Revised Statutes Title 14 Sec. 6032
- 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
- Security deposit: means any advance or deposit, regardless of its denomination, of money, the primary function of which is to secure the performance of a lease or tenancy at will agreement for residential premises or any part thereof. See Maine Revised Statutes Title 14 Sec. 6031
A lease or tenancy at will agreement for a dwelling intended for human habitation may not require a security deposit equivalent to more than the rent for 2 months. [PL 2009, c. 566, §22 (AMD).]
SECTION HISTORY
PL 1977, c. 359 (NEW). PL 2009, c. 566, §22 (AMD).