Maine Revised Statutes Title 33 Sec. 175 – Change in circumstances
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1. Inaccurate information. If information disclosed in accordance with this subchapter becomes inaccurate as a result of any action, occurrence or agreement after the delivery of the property disclosure statement, the resulting inaccuracy does not constitute a violation of this subchapter.
[PL 1999, c. 476, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 33 Sec. 175
- Property disclosure statement: means a written disclosure form prepared by a seller pursuant to section 173. See Maine Revised Statutes Title 33 Sec. 171
- Purchaser: means a transferee in any of the types of transactions described in section 172. See Maine Revised Statutes Title 33 Sec. 171
- Seller: means the owner of the residential real property that is for sale, exchange, sale under an installment contract or lease with an option to buy. See Maine Revised Statutes Title 33 Sec. 171
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
2. Supplemental disclosure. If prior to settlement or occupancy a seller has actual knowledge of an error, inaccuracy or omission in the disclosure after delivery of the property disclosure statement to purchaser, the seller shall supplement the property disclosure statement with a written supplemental disclosure.
[PL 1999, c. 476, §1 (NEW).]
SECTION HISTORY
PL 1999, c. 476, §1 (NEW).