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A Practical Guide to Residential Real Estate Transactions and Foreclosures in Maine

An essential reference for your daily practice

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  • Product Number: 2130546B00
  • Publication Date: 9/23/2020
  • Edition: 2nd Edition 2020
  • Copyright: © 2020 MCLE, Inc.
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  • Product Description
  • Table of Contents
  • Editors & Authors
  • 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: September 2020

      Dear Subscriber:

      Thank you for keeping your practice library up-to-date with the 2020 edition of A Practical Guide to Residential Real Estate Transactions and Foreclosures in Maine . Highlights of this edition include

      • practical advice on working with real estate agents;
      • sample client letters and forms;
      • a checklist of what to remember when reviewing a deed to residential real property;
      • a detailed explanation of the various types of property ownership;
      • step-by-step review of the residential closing process; and
      • and a review of common types of liens that the attorney may encounter during the course of a real estate transaction.

      We at MCLE trust that you will find this updated material useful in your real estate practice and valuable in keeping your law library current.

      Cordially,

      Alexis J. LeBlanc, Esq., MCLE Publications Attorney

  • Table of Contents

    Table of Contents

    expand all
    Chapter 1 expand

    Initial Client Contact and Meeting

    Buy Chapter
    Carl R. Griffin, III, Esq., Griffin Law Offices

    Checklist 1.1

    - Initial Meeting with Residential Real Estate Client: Checklist of Key Things to Remember Buy Form

    Exhibit 1A

    - Client Engagement Letters Buy Form

    Exhibit 1B

    - Client Termination Letter Buy Form

    Exhibit 1C

    - Conflict Letters Buy Form

    Exhibit 1D

    - Seller Disclosure of Lead-Based Paint Buy Form

    Exhibit 1E

    - Seller Disclosure Form Buy Form
    Chapter 2 expand

    Exhibit 2A

    - Lead Paint Disclosure Form Buy Form

    Exhibit 2B

    - EPA Booklet on Lead Paint Buy Form

    Exhibit 2C

    - State Form for Lead Paint Disclosure Buy Form
    Chapter 3 expand

    Working with the Real Estate Agent

    Buy Chapter
    Donald E. Guild, Esq., Linda Gifford Law Office

    Exhibit 3A

    - Maine Real Estate Commission Real Estate Brokerage Relationships Form Buy Form

    Exhibit 3B

    - Initial Memorandum to Buyer Buy Form

    Exhibit 3C

    - Initial Memorandum to Seller Buy Form

    Exhibit 3D

    - Buyer Information Sheet Buy Form

    Exhibit 3E

    - Seller Information Sheet Buy Form

    Exhibit 3F

    - Broker Information Sheet Buy Form

    Exhibit 3G

    - Authorization to Release Information Buy Form

    Exhibit 3H

    - Maine Revenue Services Property Tax Notice Buy Form
    Chapter 4 expand

    Checklist 4.1

    - Elements to Remember When Reviewing a Deed to Residential Real Property Buy Form
    Chapter 5 expand

    Residential Mortgages

    Buy Chapter
    Robert E. Danielson, Esq., Law Offices of Robert E. Danielson
    Forrest C. Peterson, Esq., Law Offices of Robert E. Danielson | Old Port Title

    Exhibit 5A

    - Letter of Nonrepresentation Regarding Loan Closing Buy Form

    Exhibit 5B

    - Sample Compliance Agreement Buy Form

    Exhibit 5C

    - Trustee Certificate Buy Form

    Exhibit 5D

    - Statutory Short Form Mortgage Buy Form

    Exhibit 5E

    - Private/Seller Financing Mortgage Buy Form

    Exhibit 5F

    - Biweekly Payment Rider Buy Form

    Exhibit 5G

    - VA Assumption Rider Buy Form

    Exhibit 5H

    - Condominium Rider Buy Form

    Exhibit 5I

    - Adjustable Rate Rider Buy Form

    Exhibit 5J

    - Inter Vivos Revocable Trust Rider Buy Form

    Exhibit 5K

    - Planned Unit Development Rider Buy Form

    Exhibit 5L

    - Second Home Rider Buy Form

    Exhibit 5M

    - Construction Loan Endorsement Buy Form

    Exhibit 5N

    - Short Form Acknowledgment Buy Form

    Exhibit 5O

    - Subordination Agreement Buy Form

    Exhibit 5P

    - Parties in Possession Affidavit Buy Form

    Exhibit 5Q

    - Broker’s Lien Waiver Buy Form

    Exhibit 5R

    - Mechanic’s Lien Affidavit Buy Form

    Exhibit 5S

    - Uniform Maine Mortgage Form Buy Form

    Exhibit 5T

    - Uniform Maine Mortgage Form with MERS Language Buy Form

    Exhibit 5U

    - Private/Seller Financing Note Buy Form

    Exhibit 5V

    - Partial Release of Mortgage Buy Form

    Exhibit 5W

    - Assignment of Mortgage Buy Form

    Exhibit 5X

    - Discharge of Mortgage Buy Form

    Exhibit 5Y

    - 33 M.R.S. § 508: Nominee Mortgages Buy Form
    Chapter 6 expand

    Exhibit 6A

    - Sample Warranty Deed for Condominium Unit Buy Form

    Exhibit 6B

    - Sample Condominium Plans Buy Form

    Exhibit 6C

    - Sample Condominium Association Articles of Incorporation Buy Form

    Exhibit 6D

    - Sample Condominium Lien Buy Form

    Exhibit 6E

    - Sample Resale Certificate from Condominium Association Buy Form
    Chapter 7 expand

    Title Holder

    Buy Chapter
    James A. Hopkinson, Esq., Hopkinson & Abbondanza
    Chapter 8 expand

    Title Examinations and Title Issues

    Buy Chapter

    Exhibit 8A

    - Probate Abstract Buy Form

    Exhibit 8B

    - Title Data Summary Sheet Buy Form

    Exhibit 8C

    - Title Examinations and Title Issues: Online Resources Guide Buy Form

    Exhibit 8D

    - Legal Description and Sketch Buy Form

    Exhibit 8E

    - Chain of Title Buy Form
    Chapter 9 expand

    Exhibit 9A

    - Sample Closing Protection Letter Buy Form

    Exhibit 9AA

    - Endorsement 9.6-06: Private Rights—Loan Policy Buy Form

    Exhibit 9AAA

    - Endorsement 28.1-06: Encroachments—Boundaries and Easements Buy Form

    Exhibit 9B

    - Sample Residential Title Insurance Commitment Buy Form

    Exhibit 9BB

    - Endorsement 9.6.1-06: Private Rights— Current Assessments—Loan Policy Buy Form

    Exhibit 9BBB

    - Endorsement 28.2-06: Encroachments—Boundaries and Easements—Described Improvements Buy Form

    Exhibit 9C

    - Sample Homeowner’s Policy of Title Insurance Buy Form

    Exhibit 9CC

    - Endorsement 9.9-06: Private Rights—Owner’s Policy Buy Form

    Exhibit 9CCC

    - Endorsement 30-06: Shared Appreciation Mortgage Buy Form

    Exhibit 9D

    - Sample Expanded Coverage Residential Loan Policy Buy Form

    Exhibit 9DD

    - Endorsement 10-06: Assignment Buy Form

    Exhibit 9DDD

    - Endorsement 32-06: Construction Loan—Loss of Priority Buy Form

    Exhibit 9E

    - Sample Owner’s Policy of Title Insurance Buy Form

    Exhibit 9EE

    - Endorsement 10.1-06: Assignment and Date Down Buy Form

    Exhibit 9EEE

    - Endorsement 32.1-06: Construction Loan—Loss of Priority—Direct Payment Buy Form

    Exhibit 9F

    - Sample Loan Policy of Title Insurance Buy Form

    Exhibit 9FF

    - Endorsement 11-06: Mortgage Modification Buy Form

    Exhibit 9FFF

    - Endorsement 32.2-06: Construction Loan—Loss of Priority—Insured’s Direct Payment Buy Form

    Exhibit 9G

    - Sample Owner’s Policy Schedule Buy Form

    Exhibit 9GG

    - Endorsement 11.1-06: Mortgage Modification with Subordination Buy Form

    Exhibit 9GGG

    - Endorsement 33-06: Disbursement Buy Form

    Exhibit 9H

    - Sample Loan Policy Schedule Buy Form

    Exhibit 9HH

    - Endorsement 11.2-06: Mortgage Modification with Additional Amount of Insurance Buy Form

    Exhibit 9HHH

    - Endorsement 34-06: Identified Risk Coverage Buy Form

    Exhibit 9I

    - Sample Residential Mortgage Survey Affidavit Buy Form

    Exhibit 9II

    - Endorsement 14-06: Future Advance—Priority Buy Form

    Exhibit 9III

    - Endorsement 35-06: Minerals and Other Subsurface Substances—Buildings Buy Form

    Exhibit 9J

    - ALTA Endorsement Forms for Use in Connection with 2006 Policy Forms Buy Form

    Exhibit 9JJ

    - Endorsement 14.1-06: Future Advance—Knowledge Buy Form

    Exhibit 9JJJ

    - Endorsement 35.1-06: Minerals and Other Subsurface Substances—Improvements Buy Form

    Exhibit 9K

    - Endorsement 3-06: Zoning Unimproved Land Buy Form

    Exhibit 9KK

    - Endorsement 14.3-06: Future Advance—Reverse Mortgage Buy Form

    Exhibit 9KKK

    - Endorsement 35.2-06: Minerals and Other Subsurface Substances—Described Improvements Buy Form

    Exhibit 9L

    - Endorsement 3.1-06: Zoning—Completed Structure Buy Form

    Exhibit 9LL

    - Endorsement 17-06:Access and Entry Buy Form

    Exhibit 9LLL

    - Endorsement 39-06: Policy Authentication Buy Form

    Exhibit 9M

    - Endorsement 4-06: Condominium Buy Form

    Exhibit 9MM

    - Endorsement 17.1-06: Indirect Access and Entry Buy Form

    Exhibit 9MMM

    - Endorsement 41-06: Water—Buildings Buy Form

    Exhibit 9N

    - Endorsement 4.1-06: Condominium Buy Form

    Exhibit 9NN

    - Endorsement 17.2-06: Utility Access Buy Form

    Exhibit 9NNN

    - Endorsement 41.1-06: Water—Improvements Buy Form

    Exhibit 9O

    - Endorsement 5-06: Planned Unit Development Buy Form

    Exhibit 9OO

    - Endorsement 18-06: Single Tax Parcel Buy Form

    Exhibit 9OOO

    - Endorsement 41.2-06: Water—Described Improvements Buy Form

    Exhibit 9P

    - Endorsement 5.1-06: Planned Unit Development Buy Form

    Exhibit 9PP

    - Endorsement 18.1-06: Multiple Tax Parcel Buy Form

    Exhibit 9PPP

    - Endorsement 43-06: Anti-Taint Buy Form

    Exhibit 9Q

    - Endorsement 6-06: Variable Rate Mortgage Buy Form

    Exhibit 9QQ

    - Endorsement 19-06: Contiguity—Multiple Parcels Buy Form

    Exhibit 9QQQ

    - Endorsement 44-06: Insured Mortgage Recording—Loan Buy Form

    Exhibit 9R

    - Endorsement 6.2-06: Variable Rate Mortgage— Negative Amortization Buy Form

    Exhibit 9RR

    - Endorsement 19.1-06: Contiguity—Single Parcel Buy Form

    Exhibit 9RRR

    - Standard Exceptions for the ALTA Loan Policy Buy Form

    Exhibit 9S

    - Endorsement 7-06: Manufactured Housing Unit Buy Form

    Exhibit 9SS

    - Endorsement 19.2-06: Contiguity—Specified Parcels Buy Form

    Exhibit 9SSS

    - Secondary Mortgage Market Endorsement Buy Form

    Exhibit 9T

    - Endorsement 7.1-06: Manufactured Housing—Conversion; Loan Buy Form

    Exhibit 9TT

    - Endorsement 20-06: First Loss—Multiple Parcel Transactions Buy Form

    Exhibit 9TTT

    - Blank or Change Endorsement Buy Form

    Exhibit 9U

    - Endorsement 7.2-06: Manufactured Housing—Conversion; Owners Buy Form

    Exhibit 9UU

    - Endorsement 22-06: Location Buy Form

    Exhibit 9V

    - Endorsement 8.1-06: Environmental Protection Lien Buy Form

    Exhibit 9VV

    - Endorsement 22.1-06: Location and Map Buy Form

    Exhibit 9W

    - Endorsement 9-06: Restrictions, Encroachments, Minerals— Loan Policy Buy Form

    Exhibit 9WW

    - Endorsement 25-06: Same as Survey Buy Form

    Exhibit 9X

    - Endorsement 9.1-06: Covenants, Conditions and Restrictions—Unimproved Land—Owner’s Policy Buy Form

    Exhibit 9XX

    - Endorsement 25.1-06: Same as Portion of Survey Buy Form

    Exhibit 9Y

    - Endorsement 9.2-06: Covenants, Conditions and Restrictions—Improved Land—Owner’s Policy Buy Form

    Exhibit 9YY

    - Endorsement 26-06: Subdivision Buy Form

    Exhibit 9Z

    - Endorsement 9.3-06: Covenants, Conditions and Restrictions— Loan Policy Buy Form

    Exhibit 9ZZ

    - Endorsement 28-06: Easement—Damage or Enforced Removal Buy Form
    Chapter 10 expand

    Liens and Leasehold Interests

    Buy Chapter
    Stephanie G. Albert, Esq., Barns, Greenfield & Thornton
    James B. Barns, Esq., Barns, Greenfield & Thornton

    Exhibit 10A

    - Residential Energy Efficiency Disclosure Statement Buy Form

    Exhibit 10B

    - Sample Forcible Entry and Detainer Complaint Buy Form
    Chapter 11 expand

    Exhibit 11A

    - Sample Easement Buy Form

    Exhibit 11B

    - Sample Road Maintenance Agreement Buy Form
    Chapter 12 expand

    Closings

    Buy Chapter
    Caitlin F. DiMillo, Esq., Spinnaker Trust
    James A. Hopkinson, Esq., Hopkinson & Abbondanza

    Exhibit 12A

    - Sample Introductory Letter Regarding Closing for a Purchaser Buy Form

    Exhibit 12B

    - Sample Introductory Letter Regarding Closing for a Borrower Buy Form

    Exhibit 12C

    - Sample Closing Disclosure Buy Form
    Chapter 13 expand

    Checklist 13.1

    - Documents That Must Be Sent at Filing of Complaint for Foreclosure Buy Form

    Exhibit 13A

    - Military Status Report Buy Form

    Exhibit 13B

    - PACER Form Buy Form

    Exhibit 13C

    - Sample Clerk’s Certificate Buy Form

    Exhibit 13D

    - Summary Sheet Buy Form

    Exhibit 13E

    - Foreclosure Diversion Program: Response to Complaint and Request for Mediation Buy Form

    Exhibit 13F

    - Foreclosure Mediation Information Provided by Defendant Buy Form

    Exhibit 13G

    - Foreclosure Mediation Information Provided by Plaintiff Buy Form

    Exhibit 13H

    - Draft Summons Buy Form

    Exhibit 13I

    - Checklist to Evaluate Mortgagee’s Compliance with Requirements Set Forth in Chase Home Finance, LLC v. Higgins Buy Form
  • Editors & Authors

    Editor(s)

    Author(s)

    Stephanie G. Albert, Esq., Barns, Greenfield & Thornton, Falmouth
    James B. Barns, Esq., Barns, Greenfield & Thornton, Falmouth
    Christopher L. Brooks, Esq., Norman Hanson & DeTroy LLC, Portland
    John A. Cunningham, Esq., Eaton Peabody PA, Brunswick
    Robert E. Danielson, Esq., Law Offices of Robert E. Danielson, Porrtland
    Caitlin F. DiMillo, Esq., Spinnaker Trust, Portland
    Katherine C. Gibson, Esq., Elliott & MacLean LLP, Camden
    Carl R. Griffin, III, Esq., Griffin Law Offices, Boothbay Harbor
    James A. Hopkinson, Esq., Hopkinson & Abbondanza, Portland
    Patrick C. Lever, Norman Hanson & DeTroy LLC, Portland
    Forrest C. Peterson, Esq., Law Offices of Robert E. Danielson | Old Port Title, Portland
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