§131. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2005, c. 574, §1 (NEW).] 1. Commercial fisheries businesses. “Commercial fisheries businesses” means any enterprise directly or indirectly concerned with the commercial harvest of wild or aquacultured marine organisms, whose primary source of income […]
§132. Creation; conveyance; acceptance; duration; filing 1. Working waterfront covenant. Except as otherwise provided in this chapter, a working waterfront covenant may be created, conveyed, recorded, assigned, released, modified, terminated or otherwise altered or affected in the same manner as other real estate covenants created by written instrument. [PL 2005, c. 574, §1 (NEW).] […]
§133. Judicial actions 1. Owners; qualified holders. An action affecting a working waterfront covenant may be brought or intervened in by: A. An owner of an interest in the real property burdened by the covenant; [PL 2005, c. 574, §1 (NEW).] B. A qualified holder of the benefit of the working waterfront covenant; […]
§134. Scope of working waterfront covenant A working waterfront covenant must include without limitation at least one of the following terms: [PL 2005, c. 574, §1 (NEW).] 1. Resale price of working waterfront real estate. Limitations on the resale price of working waterfront real estate; [PL 2005, c. 574, §1 (NEW).] 2. Amount […]
§135. Validity A working waterfront covenant is valid and enforceable notwithstanding any of the following conditions. [PL 2005, c. 574, §1 (NEW).] 1. Not appurtenant to interest in real property. The working waterfront covenant is not appurtenant and does not run with an interest in real property. [PL 2005, c. 574, §1 (NEW).] […]
§136. Application 1. Interest created after effective date. This chapter applies to any interest that complies with this chapter created after the effective date of this chapter, whether designated as a working waterfront covenant or an equitable servitude, restriction, easement or other interest in real estate. [PL 2005, c. 574, §1 (NEW).] 2. Working […]
