Maine Revised Statutes Title 33 Sec. 1604-101 – Applicability; waiver
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maine Revised Statutes Title 33 Sec. 1604-101
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
- Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72
(a) This article applies to all units subject to this Act, except as provided in subsection (b) or as modified or waived by agreement of purchasers of units in a condominium in which all units are restricted to nonresidential use. [PL 1981, c. 699 (NEW).]
(b) Neither a public offering statement nor a resale certificate need be prepared or delivered in the case of:
(1) A gratuitous disposition of a unit; [PL 1981, c. 699 (NEW).]
(2) A disposition pursuant to court order; [PL 1981, c. 699 (NEW).]
(3) A disposition by a government or governmental agency; [PL 1981, c. 699 (NEW).]
(4) A disposition by foreclosure or deed in lieu of foreclosure; [PL 1981, c. 699 (NEW).]
(5) A disposition to a person in the business of selling real estate who intends to offer those units to purchasers; or [PL 1981, c. 699 (NEW).]
(6) A disposition which may be cancelled at any time and for any reason by the purchaser without penalty. [PL 1981, c. 699 (NEW).]
SECTION HISTORY
PL 1981, c. 699 (NEW).