{"data":{"id":"us-me/33-m.r.s.-523","jurisdiction":"us-me","citation":"33 M.R.S. §523","heading":"Applicability","body":"This subchapter applies to transactions:\n1.  Purposes.  That are incurred primarily for personal, family or household purposes;\n2.  Not open-end credit.  That are not open-end credit as that term is defined in Title 9‑A, section 1‑301, subsection 26;\n3.  Not involving multiple advances.  That do not contemplate multiple advances of funds as set forth in or required by the terms of the loan documents;\n4.  Location of lender or closing.  When the lending office or branch from which the loan is made is located in this State or the loan closing occurs within this State; and\n5.  Secured by mortgages.  That are secured by mortgages on real estate containing not more than 4 residential dwelling units.","path":["TITLE 33: PROPERTY","CHAPTER 9: MORTGAGES OF REAL PROPERTY","SUBCHAPTER 1-A: FUNDED SETTLEMENT ACT"],"source_url":"https://legislature.maine.gov/statutes/33/title33sec523.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:39Z","sha256":"9a6742f8aee0118bdcbd41b315cc3f4ac8849bc4fe4c0531819fa5af2d4fc6f5","source_id":"us-me","stale":false,"prev":"us-me/33-m.r.s.-522","next":"us-me/33-m.r.s.-524"},"notice":"GroundRules: Original legal text. Not legal advice."}