Maine § 33 §1604-109 Escrow of deposits

Maine Statutes

§ 33 §1604-109 — Escrow of deposits

Maine § 33 §1604-109

Title 33PROPERTY

Ch. 31MAINE CONDOMINIUM ACT

This text of Maine § 33 §1604-109 (Escrow of deposits) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 33, § 33 §1604-109 (2026).

Text

Any deposit made in connection with the purchase or reservation of a unit from a person required to deliver a public offering statement pursuant to section 1604‑102, subsection (c) shall be placed in escrow by declarant and held either in this State or in the state where the unit is located in an account designated solely for that purpose by a licensed title insurance company, an attorney, a licensed real estate broker or an institution whose accounts are insured by a governmental agency or instrumentality until:

(1)Delivered to the declarant at closing;

(2)Delivered to the declarant because of purchaser's default under a contract to purchase the unit; or (3) Refunded to the purchaser.

Free access — add to your briefcase to read the full text and ask questions with AI

Any deposit made in connection with the purchase or reservation of a unit from a person required to deliver a public offering statement pursuant to section 1604‑102, subsection (c) shall be placed in escrow by declarant and held either in this State or in the state where the unit is located in an account designated solely for that purpose by a licensed title insurance company, an attorney, a licensed real estate broker or an institution whose accounts are insured by a governmental agency or instrumentality until: (1) Delivered to the declarant at closing; (2) Delivered to the declarant because of purchaser's default under a contract to purchase the unit; or (3) Refunded to the purchaser.