Terms Used In Maine Revised Statutes > Title 30-A > Part 2 > Subpart 8 > Chapter 201 > Subchapter 10-A - Elderly Homeowner Equity Loan Program

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bonds: means any bonds, notes, interim certificates, debentures or other obligations issued by an authority under this chapter. See Maine Revised Statutes Title 30-A Sec. 4702
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Elderly: means a person or family as defined in the United States Housing Act of 1937, Public Law 75-412, 50 Stat. See Maine Revised Statutes Title 30-A Sec. 4702
• Financial institution: means any bank or trust company, savings bank, savings and loan association, industrial bank, national banking association, federal savings and loan association, mortgage banker, credit union or other such institution authorized to do business in the State, or a government agency which customarily provides service or otherwise aids in the financing of mortgage loans. See Maine Revised Statutes Title 30-A Sec. 4702
• Food or food products: means food or food products that are grown, produced, processed or prepared for human consumption, including, but not limited to, vegetables, fruit, milk or milk products, meat or meat products, poultry or poultry products, fish or fish products, seafood or seafood products, cider or juice, acidified foods or canned fruits or vegetables. See Maine Revised Statutes Title 7 Sec. 282
• housing authority: means any of the public corporations created or authorized to be created by this chapter. See Maine Revised Statutes Title 30-A Sec. 4702
• Inhabitant: means a person having an established residence in a place. See Maine Revised Statutes Title 1 Sec. 72
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Majority: when used in reference to age shall mean the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72
• Minority: when used in reference to age shall mean under the age of 18. See Maine Revised Statutes Title 1 Sec. 72
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• mortgage: means :