Maine Revised Statutes > Title 33 > Chapter 10-A – Time Shares
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Terms Used In Maine Revised Statutes > Title 33 > Chapter 10-A - Time Shares
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Appraisal: A determination of property value.
- Bequest: Property gifted by will.
- Bonds: means any bonds, including refunding bonds, notes, interim certificates, debentures or other obligations under this chapter. See Maine Revised Statutes Title 30-A Sec. 5101
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Devise: To gift property by will.
- Fiduciary: A trustee, executor, or administrator.
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- Manager: means any person, other than all time-share owners or the association, designated in or employed pursuant to the time-share instrument or project instrument to manage the time-share units. See Maine Revised Statutes Title 33 Sec. 591
- Managing entity: means the manager or, if there is no manager, the association of unit owners. See Maine Revised Statutes Title 33 Sec. 591
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Municipal officers: means :
A. See Maine Revised Statutes Title 30-A Sec. 2001Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Person: means an individual, corporation, partnership, firm, organization or other legal entity. See Maine Revised Statutes Title 30-A Sec. 2001 Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed. Project: means real property subject to a project instrument containing more than one unit. See Maine Revised Statutes Title 33 Sec. 591 Project instrument: means one or more recordable documents by whatever name denominated, applying to the whole of a project and containing restrictions or covenants regulating the use, occupancy or disposition of units in a project, including any amendments to the document, but excluding any law, ordinance or governmental regulation. See Maine Revised Statutes Title 33 Sec. 591 Public body: means the State, or any agency or instrumentality of the State, or any board, commission, authority or district within the territorial boundaries of the municipality. See Maine Revised Statutes Title 30-A Sec. 5101 Purchaser: means any person, other than a developer, who by means of a voluntary transfer acquires a legal or equitable interest in a time share other than as security for an obligation. See Maine Revised Statutes Title 33 Sec. 591 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 Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Redeveloper: means any person that enters or proposes to enter into a redevelopment contract. See Maine Revised Statutes Title 30-A Sec. 5101 renewal plan: means a plan, as it exists from time to time, for an urban renewal project. See Maine Revised Statutes Title 30-A Sec. 5101 renewal project: means the undertakings and activities of the authority in an urban renewal area for the elimination and prevention of the development or spread of slums and blight. See Maine Revised Statutes Title 30-A Sec. 5101 Restitution: means :
A. See Maine Revised Statutes Title 17-A Sec. 2002Time share: means a time-share estate or a time-share license. See Maine Revised Statutes Title 33 Sec. 591 Time-share estate: means any interest in a unit or any of several units under which the exclusive right of use, possession or occupancy of the unit circulates among the various time-share owners in the unit in accordance with a fixed time schedule on a periodically recurring basis for periods of time established by the schedule coupled with a freehold estate or an estate for years in a time-share property or a specified portion thereof. See Maine Revised Statutes Title 33 Sec. 591 Time-share instrument: means one or more documents, by whatever name denominated, creating or regulating time shares. See Maine Revised Statutes Title 33 Sec. 591 Time-share license: means a right to occupy a unit or any of several units during 3 or more separated time periods over a period of at least 3 years, including renewal options, not coupled with a freehold estate or an estate for years. See Maine Revised Statutes Title 33 Sec. 591 Time-share owner: means a person who is an owner or co-owner of a time share other than as security for an obligation. See Maine Revised Statutes Title 33 Sec. 591 Time-share property: means one or more time-share units subject to the same time-share instrument, together with any other real estate or rights appurtenant to those units. See Maine Revised Statutes Title 33 Sec. 591 Time-share unit: means a unit in which time shares exist. See Maine Revised Statutes Title 33 Sec. 591 Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC Unit: means real property or a portion thereof designated for separate use. See Maine Revised Statutes Title 33 Sec. 591 Victim: means a government that suffers economic loss or a person who suffers personal injury, death or economic loss as a result of a crime or the good faith effort of any person to prevent a crime. See Maine Revised Statutes Title 17-A Sec. 2002