A Practical Guide to Residential Real Estate Transactions and Foreclosures in Maine
An essential reference for your daily practice
- Product Number: 2130546B00
- Publication Date: 8/9/2023
- Edition: 3rd Edition 2023
- Copyright: © 2023 MCLE, Inc.
-
Add to Favorites List
Choose Format:
-
Product Description
Product Description
Your essential reference for handling a residential real estate transaction in Maine from start to finish. Among the many important topics covered, you will learn the right questions to ask when meeting your client for the first time; how to effectively work with the real estate agent to ensure a smooth transaction; how to draft a proper and effective deed; and the nuances of liens, leasehold interests, and easements. The purchase of a home is often a once-in-a-lifetime experience for the buyer; this book will help ensure it is a positive experience for all involved.
Recent updates:
-
Update: August 2023
Dear Subscriber:
Thank you for updating your library with the latest version of A Practical Guide to Residential Real Estate Transactions and Foreclosures in Maine . This newly revised publication brings updated resources within your immediate reach—for fast, accurate, and practical answers to your questions in this highly challenging area of practice.
Highlights from the 2023 edition include
- updated guidance on drafting and negotiating purchase and sale agreements;
- a newly added discussion on the doctrine of equitable conversion;
- increased use of e-recording procedures, now in use in all but one Maine county;
- a revised uniform law on notarial acts effective July 1, 2023, allowing for remote online notarization where cer-tain guidelines are followed;
- a challenge to scenic view easements established by the Saco River Corridor Commission;
- a Maine Supreme Judicial Court decision upholding a judgment against a condominium association for inade-quate maintenance and a failure to hold formal votes;
- a detailed discussion of foreclosure-related requirements and the right to cure in particular;
- a conclusion by the Maine Supreme Judicial Court that the failure to complete foreclosure diversion program (FDP) mediation precluded the entry of summary judgment on behalf of the foreclosing parties;
- reference to a database of the Federal Financial Institutions Examination Council used to track down the assets of lenders that are no longer operating;
- a decision awarding equal ownership in a tenancy in common despite one cotenant's payment of the entire purchase price and an alleged oral promise by the other to pay one-half of the price; and
- a decision construing the term "purchaser at the public sale" in establishing the amount of the deficiency that may be recovered on the sale of foreclosed property.
We trust you will find this updated version of A Practical Guide to Residential Real Estate Transactions and Foreclosures in Maine an invaluable resource for your practice.
Very truly yours,
John M. Lawlor, Esq., MCLE Publications Attorney
-
Update: August 2023
-
Table of Contents
Table of Contents
expand allChapter 01 expandInitial Client Contact and Meeting
Buy ChapterChecklist 1.1
- Initial Meeting with Residential Real Estate Client: Checklist of Key Things to Remember Buy FormExhibit 1A
- Client Engagement Letters Buy FormExhibit 1B
- Client Termination Letter Buy FormExhibit 1C
- Conflict Letters Buy FormExhibit 1D
- Seller Disclosure of Lead-Based Paint Buy FormExhibit 1E
- Seller Disclosure Form Buy FormChapter 02 expandPurchase and Sale Agreement
Buy ChapterChapter 03 expandWorking with the Real Estate Agent
Buy ChapterExhibit 3A
- Maine Real Estate Commission Real Estate Brokerage Relationships Form Buy FormExhibit 3B
- Initial Memorandum to Buyer Buy FormExhibit 3C
- Initial Memorandum to Seller Buy FormExhibit 3D
- Buyer Information Sheet Buy FormExhibit 3E
- Seller Information Sheet Buy FormExhibit 3F
- Broker Information Sheet Buy FormExhibit 3G
- Authorization to Release Information Buy FormExhibit 3H
- Maine Revenue Services Property Tax Notice Buy FormChapter 04 expandDeeds
Buy ChapterChecklist 4.1
- Elements to Remember When Reviewing a Deed to Residential Real Property Buy FormChapter 05 expandResidential Mortgages
Buy ChapterExhibit 5A
- Letter of Nonrepresentation Regarding Loan Closing Buy FormExhibit 5B
- Sample Compliance Agreement Buy FormExhibit 5C
- Trustee Certificate Buy FormExhibit 5D
- 33 M.R.S. § 508: Nominee Mortgages Buy FormExhibit 5E
- Statutory Short Form Mortgage Buy FormExhibit 5F
- Private/Seller Financing Mortgage Buy FormExhibit 5G
- Biweekly Payment Rider Buy FormExhibit 5H
- VA Assumption Rider Buy FormExhibit 5I
- Condominium Rider Buy FormExhibit 5J
- Adjustable Rate Rider Buy FormExhibit 5K
- Inter Vivos Revocable Trust Rider Buy FormExhibit 5L
- Planned Unit Development Rider Buy FormExhibit 5M
- Second Home Rider Buy FormExhibit 5N
- Construction Loan Rider Buy FormExhibit 5O
- Short Form Acknowledgment Buy FormExhibit 5P
- Subordination Agreement Buy FormExhibit 5Q
- Parties in Possession Affidavit Buy FormExhibit 5R
- Broker’s Lien Waiver Buy FormExhibit 5S
- Mechanic’s Lien Affidavit Buy FormExhibit 5T
- Private/Seller Financing Note Buy FormExhibit 5U
- Partial Release of Mortgage Buy FormExhibit 5V
- Assignment of Mortgage Buy FormExhibit 5W
- Discharge of Mortgage Buy FormChapter 06 expandCondominium Ownership
Buy ChapterExhibit 6A
- Sample Warranty Deed for Condominium Unit Buy FormExhibit 6B
- Sample Condominium Plans Buy FormExhibit 6C
- Sample Condominium Association Articles of Incorporation Buy FormExhibit 6D
- Sample Condominium Lien Buy FormExhibit 6E
- Sample Resale Certificate from Condominium Association Buy FormChapter 07 expandTitle Holder
Buy ChapterChapter 08 expandTitle Examinations and Title Issues
Buy ChapterChapter 09 expandTitle Insurance
Buy ChapterExhibit 9A
- ALTA Closing Protection Letter—Single Transaction Buy FormExhibit 9AA
- ALTA Endorsement 14.3: Future Advance—Reverse Mortgage Buy FormExhibit 9B
- ALTA Commitment for Title Insurance Buy FormExhibit 9BB
- Secondary Mortgage Market Endorsement Buy FormExhibit 9C
- ALTA Homeowner’s Policy of Title Insurance Buy FormExhibit 9CC
- Sample Seller/Owner Title Insurance Affidavit Buy FormExhibit 9D
- ALTA Expanded Coverage Residential Loan Policy of Title Insurance Buy FormExhibit 9DD
- Sample Residential Mortgage Survey Affidavit Buy FormExhibit 9E
- ALTA Endorsement 13-06: Leasehold—Owner’s Buy FormExhibit 9F
- ALTA Endorsement 13.1-06: Leasehold—Loan Buy FormExhibit 9G
- ALTA Owner’s Policy of Title Insurance Buy FormExhibit 9H
- ALTA Loan Policy of Title Insurance Buy FormExhibit 9I
- Sample Owner’s Policy Schedule Buy FormExhibit 9J
- Sample Loan Policy Schedule Buy FormExhibit 9K
- ALTA Endorsement Chart Buy FormExhibit 9L
- ALTA Endorsement 4: Condominium—Assessments Priority Buy FormExhibit 9M
- ALTA Endorsement 4.1: Condominium—Current Assessments Buy FormExhibit 9N
- ALTA Endorsement 5-06: Planned Unit Development—Assessments Priority Buy FormExhibit 9O
- ALTA Endorsement 5.1-06: Planned Unit Development—Current Assessments Buy FormExhibit 9P
- ALTA Endorsement 6-06: Variable Rate Mortgage Buy FormExhibit 9Q
- ALTA Endorsement 6.2-06: Variable Rate Mortgage—Negative Amortization Buy FormExhibit 9R
- ALTA Endorsement 7-06: Manufactured Housing Unit Buy FormExhibit 9S
- ALTA Endorsement 7.1: Manufactured Housing—Conversion—Loan Policy Buy FormExhibit 9T
- ALTA Endorsement 7.2: Manufactured Housing—Conversion—Owner’s Policy Buy FormExhibit 9U
- ALTA Endorsement 8.1: Environmental Protection Lien Buy FormExhibit 9V
- ALTA Endorsement 9-06: Restrictions, Encroachments, Minerals—Loan Policy Buy FormExhibit 9W
- ALTA Endorsement 9.2-06: Covenants, Conditions and Restrictions—Improved Land—Owner’s Policy Buy FormExhibit 9X
- ALTA Endorsement 9.3-06: Covenants, Conditions and Restrictions—Loan Policy Buy FormExhibit 9Y
- ALTA Endorsement 9.10-06: Restrictions, Encroachments, Minerals—Current Violations—Loan Policy Buy FormExhibit 9Z
- ALTA Endorsement 14.1: Future Advance—Knowledge Buy FormChapter 10 expandLiens and Leasehold Interests
Buy ChapterChapter 11 expandEasements
Buy ChapterChapter 12 expandClosings
Buy ChapterChapter 13 expandForeclosures
Buy ChapterChecklist 13.1
- Documents That Must Be Sent at Filing of Complaint for Foreclosure Buy FormExhibit 13A
- Military Status Report Buy FormExhibit 13B
- PACER Form Buy FormExhibit 13C
- Sample Clerk’s Certificate Buy FormExhibit 13D
- Summary Sheet Buy FormExhibit 13E
- Foreclosure Diversion Program: Response to Complaint and Request for Mediation Buy FormExhibit 13F
- Foreclosure Mediation Information Provided by Defendant Buy FormExhibit 13G
- Foreclosure Mediation Information Provided by Plaintiff Buy FormExhibit 13H
- Draft Summons Buy FormExhibit 13I
- Checklist to Evaluate Mortgagee’s Compliance with Requirements Set Forth in Chase Home Finance, LLC v. Higgins Buy Form - Editors & Authors