2017 Maine Revised Statutes
TITLE 33: PROPERTY
Chapter 31: MAINE CONDOMINIUM ACT
Article 4: PROTECTION OF CONDOMINIUM PURCHASERS
33 §1604-101. Applicability; waiver
§1604-101. Applicability; waiver
(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. [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; [1981, c. 699, (NEW).]
(2) A disposition pursuant to court order; [1981, c. 699, (NEW).]
(3) A disposition by a government or governmental agency; [1981, c. 699, (NEW).]
(4) A disposition by foreclosure or deed in lieu of foreclosure; [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 [1981, c. 699, (NEW).]
(6) A disposition which may be cancelled at any time and for any reason by the purchaser without penalty. [1981, c. 699, (NEW).]
SECTION HISTORY
1981, c. 699, (NEW).
