Maine Revised Statutes Title 33 Sec. 568 – Common profits and expenses
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Terms Used In Maine Revised Statutes Title 33 Sec. 568
- Common expenses: means and includes:
A. See Maine Revised Statutes Title 33 Sec. 561Common profits: means the balance of all income, rents, profits and revenues from the common areas and facilities remaining after the deduction of the common expenses. See Maine Revised Statutes Title 33 Sec. 561 Property: means and includes the land, the building, all improvements and structures thereon, all owned in fee simple absolute, or leased as provided in section 579 and all easements, rights and appurtenances belonging thereto, which have been or are intended to be submitted to the provisions of this chapter. See Maine Revised Statutes Title 33 Sec. 561 Unit: means a part of the property including one or more rooms or enclosed spaces located on one or more floors or a part or parts thereof in a building, intended for any type of independent use, and with a direct exit to a public street or highway or to a common area leading to such street or highway. See Maine Revised Statutes Title 33 Sec. 561
The common profits of the property shall be distributed among, and the common expenses shall be charged to the unit owners according to the percentage of the undivided interest in the common areas and facilities. [PL 1965, c. 357 (NEW).]
SECTION HISTORY
PL 1965, c. 357 (NEW).