§481. Definitions As used in this chapter, unless the context indicates otherwise, the following terms have the following meanings. [PL 1983, c. 368 (NEW).] 1. Down payment. “Down payment” means the payment made by the purchaser to the vendor on account of the purchase price at or before the time of the execution of […]
§482. Minimum contents of land installment contracts; recordation 1. Contents. A land installment contract shall be executed in duplicate and a copy of the contract shall be provided to the vendor and the purchaser. The contract shall contain at least the following provisions: A. The full names and post-office addresses of all the parties […]
§483. Prohibited acts 1. Bad faith avoidance. A person may not in bad faith attempt to avoid the application of this chapter including engaging in subterfuge or designing or structuring a transaction with the purpose of evading the provisions of this chapter. [PL 2021, c. 350, §3 (NEW).] 2. Survival of foreclosure. A land […]
