Terms Used In Maine Revised Statutes Title 36 Sec. 683

• Applicant: means an individual who has applied for a homestead property tax exemption pursuant to this subchapter. See Maine Revised Statutes Title 36 Sec. 681
• Cooperative housing corporation: means an entity organized for the purpose of owning residential real estate in which residents own shares that entitle the shareholder to inhabit a certain space within a residential dwelling. See Maine Revised Statutes Title 36 Sec. 681
• Cooperative property: means the real property, including mobile and manufactured homes, owned by a cooperative housing corporation for the primary purpose of residential use. See Maine Revised Statutes Title 36 Sec. 681
• 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.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Homestead: means any residential property, including cooperative property, in this State assessed as real property owned by an applicant or held in a revocable living trust for the benefit of the applicant and occupied by the applicant as the applicant's permanent residence or owned by a cooperative housing corporation and occupied as a permanent residence by a resident who is a qualifying shareholder. See Maine Revised Statutes Title 36 Sec. 681
• Lien: A claim against real or personal property in satisfaction of a debt.
• Municipality: shall include cities, towns and plantations. See Maine Revised Statutes Title 36 Sec. 501
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Permanent resident: means an individual who has established a permanent residence. See Maine Revised Statutes Title 36 Sec. 681
• Property: shall be construed to mean both real estate and personal property. See Maine Revised Statutes Title 36 Sec. 501
• Return: means any document, digital file or electronic data transmission containing information required by this Title to be reported to the State Tax Assessor. See Maine Revised Statutes Title 36 Sec. 111
• Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111
• Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72