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Current as of January 01, 2025 | Updated by Findlaw Staff
A facility owner shall cease enforcement actions immediately if:
1. Payment by owner. The property owner pays the facility owner the full amount necessary to satisfy the lien. At any time before the conclusion of a sale conducted under this chapter, the property owner may redeem the property by paying the full amount necessary to satisfy the lien; or
2. Payment by other lienholders. A person other than the facility owner who has a lien on the property pays the facility owner the full amount necessary to satisfy the lien held by the facility owner. Upon payment by a lienholder of record, the facility owner shall hold the property for the benefit of and at the direction of that lienholder and may not deliver possession of the property to the property owner. Unless the facility owner and the lienholder enter into a new storage agreement, the lienholder shall arrange removal of the property from the facility.
Cite this article: FindLaw.com - Maine Revised Statutes Title 10. Commerce and Trade § 1386. Cessation of enforcement actions - last updated January 01, 2025 | https://codes.findlaw.com/me/title-10-commerce-and-trade/me-rev-st-tit-10-sect-1386/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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