An Act To Regulate Shared Appreciation Agreements Relating To Residential Property

This bill defines and regulates "shared appreciation agreements" for residential property in Maine. It directly affects homeowners who enter such agreements (where a provider gives money in exchange for a share of future property value) and the providers offering these agreements. Key provisions ban liens on property, restrictions on renting or refinancing, excessive fees, mandatory arbitration, and require providers to pay for the homeowner's independent legal counsel before signing. The bill caps repayment amounts at 200% of the initial advance and makes agreements violating these rules unenforceable, with violations triggering license revocation for providers.