‘Sec. 1. 14 MRSA §817 is enacted to read:
§ 817. Limitation of actions for breach of covenants; vested interest in 6-year limitations period
By virtue of the Maine Revised Statutes, Title 14, section 817, subsection 2, the following instrument that was not executed under seal is deemed to be subject to a 20-year limitations period for breach of covenants if no claim of a vested right to assert the 6-year statute of limitations for breach of covenants is timely made:
(list here the instrument by grantor name, grantee name, date of execution and recording information, if any)
This instrument affects real estate located at (identify here street location, municipality and county where the real estate is located).
Pursuant to the Maine Revised Statutes, Title 14, section 817, the undersigned hereby claims a vested right to assert the defense of statute of limitations for any cause of action asserting a breach of covenants in the above described instrument that is not commenced within 6 years of the date the cause of action accrued."
(1) The grantee of the instrument did not, at the time of delivery of the instrument, intend for the 6-year statute of limitations to apply; or
(2) The grantor executed the instrument fraudulently or in bad faith.