Maine § 33 §483 Prohibited acts

Maine Statutes

§ 33 §483 — Prohibited acts

Maine § 33 §483

Title 33PROPERTY

Ch. 8LAND INSTALLMENT CONTRACTS

This text of Maine § 33 §483 (Prohibited acts) 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 §483 (2026).

Text

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:

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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: