Maine Disclosure Law
Maine does not have a statutory mandatory seller disclosure form for residential property. However, sellers have a common law duty to disclose known material defects that would not be discoverable by a reasonable buyer inspection. Voluntary disclosure is strongly recommended to limit post-closing liability.
What Should Be Disclosed (Voluntary Form)
Underground Oil Tanks
Maine has thousands of homes with underground oil storage tanks (USTs). Sellers must disclose any known tanks. Buyers routinely request tank sweeps ($200–$400). An undisclosed leaking tank can result in cleanup costs of $20,000–$100,000 and rescission of the sale.
Lead Paint
Federal law requires disclosure of known lead paint hazards for pre-1978 homes. Sellers must provide the EPA Lead Paint Disclosure form and a pamphlet to buyers. Buyers have 10 days to conduct a lead inspection contingency (waivable).
Penalties
While Maine lacks a specific disclosure statute, common law fraud claims are available to buyers who can prove the seller knew of a material defect and concealed it. Damages can include repair costs, diminution of value, and attorney fees.
Find Maine real estate attorneys via the Maine FSBO guide.