Escrow & Title
In Maine, a 'quiet title action' is a lawsuit filed to:
APrevent neighbors from making noise near the property
BEstablish or confirm ownership of real property and remove competing claims✓ Correct
CQuiet a disruptive tenant
DPrevent a foreclosure
Explanation
A quiet title action is a court proceeding to establish clear ownership of real property, removing any competing claims, clouds on title, or adverse possession claims — essentially asking the court to 'quiet' any adverse claims to the title.
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Key Terms to Know
Adverse Possession
A doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
Net Operating Income (NOI)The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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