| | | If a lessee does not elect to purchase the leased premises, | | the lease must continue with the same terms, other than annual | | rental fees, for no less than 50 years with the annual rental fee | | being not more than 5% of the fair market value of the leased | | premises, excluding improvements.__The lessor may not impose any | | additional fees and the lessor may not amend any lease in effect | | prior to January 1, 2005 without the consent of the lessee. |
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| | | A lessor who violates this section does not qualify for the | | Maine Tree Growth Tax Law for the municipality in which the | | leasehold is located. |
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| | | All conveyances of real estate by the lessor must be made | | subject to all leases in effect at the time of conveyance. |
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| | | All lessors and their successors in interest shall honor all | | leases in effect at the time of any conveyance. |
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| | | Sec. 6. 14 MRSA §§6050-A to 6050-F are enacted to read: |
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| | | §6050-A.__Capital gains taxation |
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| | | For real estate sold pursuant to this chapter prior to | | December 31, 2007, the grantor does not incur capital gains tax | | under the laws of this State if the real estate is sold for its | | fair market value as defined in section 6050. |
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| | | The sale of real estate pursuant to this chapter is exempt | | from the subdivision laws in Title 30-A, sections 4401 to 4406. |
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| | | §6050-C.__Maine Land Use Regulation Commission |
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| | | The sale of real estate pursuant to this chapter is exempt | | from the laws relating to the Maine Land Use Regulation | | Commission, Title 12, chapter 206-A, subchapter 2 and the rules | | of the Maine Land Use Regulation Commission as they relate to the | | conveyance of real estate in the unorganized territory, except | | for subsurface waste disposal issues.__These laws and rules apply | | to this real estate following its conveyance. |
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| | | All real estate conveyed pursuant to this chapter has a | | perpetual easement by necessity from a State-maintained highway, | | no less than 16.5 feet in width or its current width, whichever | | is greater. |
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| | | §6050-E.__Binding arbitration |
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