Maine Statutes
§ 33 §573 — Withdrawal
The unit owners may remove a property from the provisions of this chapter by an instrument to that effect, duly recorded, containing the signatures of 90% of the unit owners, provided the holders of all liens affecting any of the units consent thereto or agree, in either case by instruments duly recorded, that their liens be transferred to an undivided interest in the property. Upon removal of the property from this chapter, the unit owners shall be deemed to own the property as tenants in common with undivided interests in the percentage of undivided interests previously owned by such owner in the common areas and facilities.
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Legislative History
PL 1965, c. 357 (NEW).
Nearby Sections
15
§ 33 §501
Forms§ 33 §501-A
"Power of sale"§ 33 §502
Entry by mortgagee§ 33 §503
Property insurance§ 33 §505
Open-end mortgages§ 33 §506
Undocumented mortgage agreements§ 33 §508
Nominee mortgagees§ 33 §521
Short title§ 33 §522
Definitions§ 33 §523
Applicability