Maine Condominium Law
Residential condominiums and commercial condominiums have become an important form of real estate ownership and investment. A condominium is a system of real estate ownership composed of individual units in multi-unit projects in which portions of the project are used in common by the unit owners.
The rules for condominium government or management are established in a document commonly called a Declaration of Condominium. The owners and occupiers of condominiums are subject to rules established by the Declaration and include such obligations as the payment of monthly fees for maintaining the common areas. The Declaration of Condominium is recorded at the Registry of Deeds.
An often used term, condominium documents, includes the Declaration (a/k/a Master Deed), Bylaws and association formation, plat and floor plans, and rules and regulations.
At Ballou & Bedell:
- We assist our condominium developer clients with complete condominium document preparation and closing representation.
- We assist our condominium purchaser clients with condominium document review and closing services.
- We assist our condominium seller clients with condominium unit deed preparation, association dues certificates (a/k/a Resale Certificates), and other closing document requirements.
At Ballou & Bedell, we also serve as legal counsel and Registered Agent to Condominium Associations assisting with bylaw changes, annual non-profit corporate filings, and other similar legal services.
Are you a member of a homeowner’s association, condominium association or road association? We assist such associations with:
- Annual meetings
- Annual reporting to the Secretary of State’s Office
- Developer transition
- Pet policies
- Guidance with insurance/liability issues
- Rules drafting
- Boundary issues with neighboring properties
- Assessment collection advice
At Ballou & Bedell, we can assist you whether you wish to form, buy, sell, or maintain a condominium. Contact us to learn more.