Escrow & Title
A Maine title search reveals a mechanic's lien filed 18 months ago. The seller claims the contractor was paid. The proper resolution before closing is:
AAccept the seller's word and close
BRequire a lien release or bond✓ Correct
CReduce the purchase price
DFile a quiet title action
Explanation
A filed mechanic's lien must be formally released or bonded over before closing. The seller's verbal claim of payment is not sufficient to remove the lien from title.
Related Maine Escrow & Title Questions
- In Maine, a title search typically covers how many years to establish a marketable chain of title under the Marketable Record Title Act?
- In Maine, a 'deed in lieu of foreclosure' occurs when a borrower:
- A Maine title examiner discovers a gap in the chain of title. The most common remedy is to:
- A Maine deed that has been signed but not delivered to the grantee is:
- A Maine property is sold at a foreclosure auction. The original owner's right to reclaim the property by paying the debt is called:
- Maine's Marketable Record Title Act (MRTA) extinguishes claims against title that are older than:
- An owner's title insurance policy in Maine protects the:
- In Maine, a 'lis pendens' recorded against a property notifies potential buyers that:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →