Maine · 33 M.R.S. §1604-108Maine condo resale certificate: what the seller furnishes and the buyer's 5-day right

When a unit in a Maine condominium is resold, the unit owner must furnish the buyer – before any contract is signed, or otherwise before conveyance – the declaration (other than plats and plans), bylaws, rules and a reasonably current certificate stating any right of first refusal, the monthly common expense assessment and anything unpaid, other fees, capital expenditures the association anticipates, reserves, the latest balance sheet and income statement, the operating budget, unsatisfied judgments and pending suits against the association, insurance, known violations of the declaration or health and building codes, and any leasehold term (33 M.R.S. §1604-108(a)). The association must furnish the certificate within 10 days after the owner's request and payment of a reasonable fee, and the owner isn't liable for the association's errors (§1604-108(b)). The buyer isn't liable for unpaid assessments or fees greater than the certificate shows; the owner isn't liable for the association's delay, but the contract is voidable by the buyer until the certificate has been provided and for 5 days after, or until conveyance, whichever comes first (§1604-108(c)).