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2010 Maine Code
TITLE 33: PROPERTY
Chapter 9: MORTGAGES OF REAL PROPERTY
33 §525. Duty of settlement agent

Universal Citation:
33 ME Rev Stat § 525 (2010 through 124th Legis)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Subchapter 1-A: FUNDED SETTLEMENT ACT HEADING: PL 1999, C. 145, §1 (NEW)

§525. Duty of settlement agent

The settlement agent shall cause recordation of any deed, mortgage or other documents required to be recorded and shall cause disbursement of settlement proceeds within 2 business days of settlement or, when any right of rescission applies pursuant to the federal Truth-in-Lending Act, 15 United States Code, Section 1601 et seq. or the state truth-in-lending provisions, Title 9-A, article VIII, as applicable, at the time that the settlement agent reasonably determines that such right of rescission has not been exercised. [1999, c. 145, §1 (NEW).]

SECTION HISTORY

1999, c. 145, §1 (NEW).

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