CHAPTER 275
H.P. 830 - L.D. 1212
An Act To Amend the Laws Governing the Effect of Foreclosure of a Tax Lien on Time-share Estates
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 33 MRSA §593, sub-§7 is enacted to read:
7. Effect of foreclosure. A governmental entity that acquires ownership of a time-share estate for reasons of tax delinquency, including, but not limited to, the automatic foreclosure of a tax lien, may not be required to pay for the share of common expenses attributable to the time-share estate during the period the governmental entity owns the time-share estate if the governmental entity does not use the time-share estate. Use by a governmental entity includes, without limitation, leasing or renting the time-share estate. Any unpaid common expenses attributable to the time-share estate accruing during the period of ownership of the time-share estate by the governmental entity may be charged by the owners' association or managing entity to the purchaser of a foreclosed time-share estate when the purchaser acquires title to the unit from the governmental entity. The governmental entity shall disclose in writing to a prospective purchaser of the time-share estate that the purchaser may be charged for the common expenses attributable to the time-share estate accruing during the period of the governmental entity's ownership.
Sec. 2. Application. This Act applies to time-share estates owned or acquired by a governmental entity on or after April 1, 2005.
Effective September 17, 2005.
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