LD 17
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LD 17 Title Page An Act to Require a Mortgagee to Notify Annually the Municipality in Which Mort... LD 17 Title Page
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LR 504
Item 1
 
Be it enacted by the People of the State of Maine as follows:

 
Sec. 1. 33 MRSA §506 is enacted to read:

 
§506.__Notice of mortgage

 
A mortgagee that takes a mortgage on real property located in
this State shall forward annually the name and address of the
mortgagor, the location of the property and the name and address
of the mortgagee to the municipality in which the mortgaged
property is located.__If the property is located in an
unorganized territory, the mortgagee shall forward annually the
name and address of the mortgagor, the location of the property
and the name and address of the mortgagee to the State Tax
Assessor.

 
SUMMARY

 
This bill requires mortgagees to provide notice of mortgages
to municipalities in which the property is located or to the
State Tax Assessor if the property is located in unorganized
territory. It also requires that a mortgagee shall provide the
municipality or State Tax Assessor the name and address of the
mortgagor, the location of the property and the name and address
of the mortgagee.

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