Sec. 1. 32 MRSA §13065, sub-§3, as enacted by PL 1987, c. 395, Pt. A, §212, is amended to read:

3. Brokerage practice. The commission may adopt rules consistent with the standards set forth in this chapter governing real estate brokerage practices in order to establish standards of practice which that serve the interests of both the public and the industry. Rules establishing standards for property disclosures must be limited to real estate consisting of not fewer than one or more than 4 residential dwelling units.

SUMMARY

This bill exempts nonresidential property sales from the Maine Real Estate Commission rules on property disclosure.