Maine § 33 §523 Applicability

Maine Statutes

§ 33 §523 — Applicability

Maine·Title 33 PROPERTY·Ch. 9 MORTGAGES OF REAL PROPERTY

This subchapter applies to transactions:

1.Purposes. That are incurred primarily for personal, family or household purposes;

2.Not open-end credit. That are not open-end credit as that term is defined in Title 9‑A, section 1‑301, subsection 26;

3.Not involving multiple advances. That do not contemplate multiple advances of funds as set forth in or required by the terms of the loan documents;

4.Location of lender or closing. When the lending office or branch from which the loan is made is located in this State or the loan closing occurs within this State; and

5.Secured by mortgages. That are secured by mortgages on real estate containing not more than 4 residential dwelling units.

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This subchapter applies to transactions:
1.
Purposes.
That are incurred primarily for personal, family or household purposes;
2.
Not open-end credit.
That are not open-end credit as that term is defined in Title 9‑A, section 1‑301, subsection 26;
3.
Not involving multiple advances.
That do not contemplate multiple advances of funds as set forth in or required by the terms of the loan documents;
4.
Location of lender or closing.
When the lending office or branch from which the loan is made is located in this State or the loan closing occurs within this State; and
5.
Secured by mortgages.
That are secured by mortgages on real estate containing not more than 4 residential dwelling units.

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