Maine § 33 §1604-101 Applicability; waiver

Maine Statutes

§ 33 §1604-101 — Applicability; waiver

Maine·Title 33 PROPERTY·Ch. 31 MAINE CONDOMINIUM ACT

(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.

(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;

(2)A disposition pursuant to court order;

(3)A disposition by a government or governmental agency;

(4)A disposition by foreclosure or deed in lieu of foreclosure;

(5)A disposition to a person in the business of selling real estate who intends to offer those units to purchasers; or

(6)A disposition which may be cancelled at any time and for any reason by the purchaser without penalty.

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(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.
(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;
(2) A disposition pursuant to court order;
(3) A disposition by a government or governmental agency;
(4) A disposition by foreclosure or deed in lieu of foreclosure;
(5) A disposition to a person in the business of selling real estate who intends to offer those units to purchasers; or
(6) A disposition which may be cancelled at any time and for any reason by the purchaser without penalty.

Maine § 33 §1604-101 (Applicability; waiver) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.