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2020 Maine Revised Statutes
TITLE 33: PROPERTY
Chapter 9: MORTGAGES OF REAL PROPERTY
Subchapter 1-A: FUNDED SETTLEMENT ACT
33 §525. Duty of settlement agent
Universal Citation: 33 ME Rev Stat § 525 (2020)
§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 8-A, as applicable, at the time that the settlement agent reasonably determines that such right of rescission has not been exercised. [PL 2011, c. 427, Pt. D, §24 (AMD).]
SECTION HISTORY
PL 1999, c. 145, §1 (NEW). PL 2011, c. 427, Pt. D, §24 (AMD).
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