Maine law requires sellers of residential property to give buyers a completed Property Disclosure Statement that explains important details about the condition of the home. Under Maine Revised Statutes, Title 33, Section 174, this form must be provided to the buyer before or at the same time they make an offer to purchase the property.
If the seller gives the disclosure after an offer is made, the buyer has 72 hours after receiving it to cancel the contract without penalty. This rule helps protect buyers by making sure they have the information they need before fully committing to the purchase.
How Can I Get a Copy of the "Maine Property Disclosure" form?
We will provide you a copy of any Maine disclosure form for free upon submitting a flat fee MLS listing through our website. We charge a low, one-time flat fee to list your home on the MLS.
Are There Any Exemptions to Providing the Disclosure?
Yes, please review the civil code for the most current list.
1. Transfers pursuant to court order, including, but not limited to, transfers ordered by a court in the administration of an estate, transfers pursuant to a writ of execution, transfers by any foreclosure sale, transfers by a trustee in bankruptcy, transfers by eminent domain and transfers resulting from a decree for specific performance
2. Transfers to a mortgagee by a mortgagor or successor in interest who is in default or transfers to a beneficiary of a deed of trust by a trustor or successor in interest who is in default
3. Power of sale. Transfers by a sale under a power of sale or any foreclosure sale under a decree of foreclosure after default in an obligation secured by a mortgage or deed of trust or secured by any other instrument containing a power of sale, or transfers by a mortgagee or a beneficiary under a deed of trust who has acquired the residential real property at a sale conducted pursuant to a power of sale under a mortgage or deed of trust or a sale pursuant to a decree of foreclosure or who has acquired the residential real property by a deed in lieu of foreclosure
4. Transfers by a fiduciary in the course of administration of a decedent's estate, guardianship, conservatorship or trust
5. Transfers from one or more co-owners solely to one or more other co-owners
6. Testate; intestate succession. Transfers pursuant to testate or intestate succession
7. Transfers made to a spouse or to a person or persons in the lineal line of consanguinity of one or more of the owners
8. Transfers between spouses resulting from a judgment of divorce or a judgment of separate maintenance or from a property settlement agreement incidental to such a judgment
9. Transfers or exchanges to or from any governmental entity
10. Transfers from an entity that has taken title to a residential real property to assist the prior owner in relocating, as long as the entity makes available to the purchaser a copy of the property disclosure statement furnished to the entity by the prior owner
11. Transfers to a living trust
12. Transfers that, without additional consideration and without changing ownership or ownership interest, confirm, correct, modify or supplement a deed previously recorded
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