Maine § 33 §483 Prohibited acts

Maine Statutes

§ 33 §483 — Prohibited acts

Maine·Title 33 PROPERTY·Ch. 8 LAND INSTALLMENT CONTRACTS

1.Bad faith avoidance. A person may not in bad faith attempt to avoid the application of this chapter including engaging in subterfuge or designing or structuring a transaction with the purpose of evading the provisions of this chapter.

2.Survival of foreclosure. A land installment contract may not require a purchaser to enter into a promissory note or any other financial instrument or obligation that survives the foreclosure of the purchaser's interest in the real estate, or enforce any such obligation, unless:

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

1.
Bad faith avoidance.
A person may not in bad faith attempt to avoid the application of this chapter including engaging in subterfuge or designing or structuring a transaction with the purpose of evading the provisions of this chapter.
2.
Survival of foreclosure.
A land installment contract may not require a purchaser to enter into a promissory note or any other financial instrument or obligation that survives the foreclosure of the purchaser's interest in the real estate, or enforce any such obligation, unless:

Maine § 33 §483 (Prohibited acts) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.