MAINE REAL ESTATE LAW FINAL PAPER 2025/2026
QUESTIONS WITH ANSWERS GRADED A+
✔✔How many industry members serve on the Maine Real Estate Commission? - ✔✔4
✔✔How many public members serve on the Maine Real Estate Commission? - ✔✔2
✔✔The Commission adopts rules to establish: - ✔✔standards of practice for licensees,
qualifications for licensure, requirements for pre-license and continuing education, and
duties of designated brokers for the supervision of employees and independent
contractors
✔✔The Director of the Commission: - ✔✔manages the day-to-day business of the
Commission
✔✔What is the maximum fine the Commission can impose per violation? - ✔✔$2000
plus the amount of compensation received in the subject transaction
✔✔A landlord cannot charge more than ________ as a security deposit. - ✔✔2 times
the monthly rent
✔✔Where must money from a security deposit be held? - ✔✔Security Deposit Escrow
Account
✔✔A payment of rent is considered late if it is not made within _______ of its due date.
- ✔✔15 days
✔✔A landlord may assess a late fee of no more than _____% of the amount of a
month's rent - ✔✔4%
✔✔Except in the case of emergency, a landlord must give the tenant at least ________
hours notice before entering the premises - ✔✔24 hours
✔✔If a tenant owes back rent or has damaged property, the landlord may - ✔✔deduct
these costs from the security deposit or sue the tenant in court (if costs exceed security
deposit)
✔✔A tenant is at will, it means - ✔✔no written lease
✔✔A tenant at will must give the landlord a ___ day notice if leaving. - ✔✔30
✔✔If a landlord asks the tenant at will to leave "with cause", the tenant must vacate the
premises in _____ days - ✔✔7
, ✔✔If a tenant at will does not leave within 7 days, the landlord may file a - ✔✔Forcible
Entry and Detainer action
✔✔Landlords are required to provide these two things at the time a property/unit is
rented - ✔✔smoke and carbon monoxide detectors
✔✔Sole ownership is also known as - ✔✔tenancy is severalty
✔✔With sole ownership, how many names are on the deed? - ✔✔1
✔✔Joint tenants enjoy rights of - ✔✔survivorship
✔✔With joint tenancy, how many names are on the deed? - ✔✔2+
✔✔Joint tenants share the four unities of: - ✔✔Time, Title, Interest, Possession
✔✔When one joint tenant dies, all his interests and rights pass to the surviving joint
tenants. This is known as - ✔✔right of survivorship
✔✔A joint tenant may transfer his interest to an outside party, but only as a
_____________ interest - ✔✔tenancy in common
✔✔3 ways to terminate joint tenancy are: - ✔✔partition suit, foreclosure, bankruptcy
✔✔The 3 main differences between joint tenancy and tenancy in common are: -
✔✔Tenants in common:
may enter into the joint ownership at any time
may own unequal shares
no right of survivorship
✔✔these 2 types of ownership do not exist in Maine - ✔✔Tenancy by the entireties
Community property
✔✔This type of ownership grants business partners equal rights to all partners, however
the property must be used in connection with the partnership's business. Individual
rights are not assignable. - ✔✔tenancy in partnership
✔✔condominium is a form of _________________ - ✔✔ownership
✔✔in this type of ownership, individuals own shares in a corporation that owns the
building(s). - ✔✔cooperative
✔✔Time share is known as __________ ownership - ✔✔interval
QUESTIONS WITH ANSWERS GRADED A+
✔✔How many industry members serve on the Maine Real Estate Commission? - ✔✔4
✔✔How many public members serve on the Maine Real Estate Commission? - ✔✔2
✔✔The Commission adopts rules to establish: - ✔✔standards of practice for licensees,
qualifications for licensure, requirements for pre-license and continuing education, and
duties of designated brokers for the supervision of employees and independent
contractors
✔✔The Director of the Commission: - ✔✔manages the day-to-day business of the
Commission
✔✔What is the maximum fine the Commission can impose per violation? - ✔✔$2000
plus the amount of compensation received in the subject transaction
✔✔A landlord cannot charge more than ________ as a security deposit. - ✔✔2 times
the monthly rent
✔✔Where must money from a security deposit be held? - ✔✔Security Deposit Escrow
Account
✔✔A payment of rent is considered late if it is not made within _______ of its due date.
- ✔✔15 days
✔✔A landlord may assess a late fee of no more than _____% of the amount of a
month's rent - ✔✔4%
✔✔Except in the case of emergency, a landlord must give the tenant at least ________
hours notice before entering the premises - ✔✔24 hours
✔✔If a tenant owes back rent or has damaged property, the landlord may - ✔✔deduct
these costs from the security deposit or sue the tenant in court (if costs exceed security
deposit)
✔✔A tenant is at will, it means - ✔✔no written lease
✔✔A tenant at will must give the landlord a ___ day notice if leaving. - ✔✔30
✔✔If a landlord asks the tenant at will to leave "with cause", the tenant must vacate the
premises in _____ days - ✔✔7
, ✔✔If a tenant at will does not leave within 7 days, the landlord may file a - ✔✔Forcible
Entry and Detainer action
✔✔Landlords are required to provide these two things at the time a property/unit is
rented - ✔✔smoke and carbon monoxide detectors
✔✔Sole ownership is also known as - ✔✔tenancy is severalty
✔✔With sole ownership, how many names are on the deed? - ✔✔1
✔✔Joint tenants enjoy rights of - ✔✔survivorship
✔✔With joint tenancy, how many names are on the deed? - ✔✔2+
✔✔Joint tenants share the four unities of: - ✔✔Time, Title, Interest, Possession
✔✔When one joint tenant dies, all his interests and rights pass to the surviving joint
tenants. This is known as - ✔✔right of survivorship
✔✔A joint tenant may transfer his interest to an outside party, but only as a
_____________ interest - ✔✔tenancy in common
✔✔3 ways to terminate joint tenancy are: - ✔✔partition suit, foreclosure, bankruptcy
✔✔The 3 main differences between joint tenancy and tenancy in common are: -
✔✔Tenants in common:
may enter into the joint ownership at any time
may own unequal shares
no right of survivorship
✔✔these 2 types of ownership do not exist in Maine - ✔✔Tenancy by the entireties
Community property
✔✔This type of ownership grants business partners equal rights to all partners, however
the property must be used in connection with the partnership's business. Individual
rights are not assignable. - ✔✔tenancy in partnership
✔✔condominium is a form of _________________ - ✔✔ownership
✔✔in this type of ownership, individuals own shares in a corporation that owns the
building(s). - ✔✔cooperative
✔✔Time share is known as __________ ownership - ✔✔interval
