An Act To Simplify the Real Estate Foreclosure Process
Maine Legislature, Session 122, LD 0469
Committee: Insurance and Financial Services
Sponsors: CRESSEY, DAMON, BERUBE, BIERMAN, BISHOP, CEBRA, OTT, PERCY, SAMPSON, TURNER
Amends: 14 MRSA §6323

Legislative Document 
No. 469 
H.P.344 
House of Representati ves, February 1, 2005 
An Act To Simplify the Real Estate Foreclosure Process 
Reference to the Committee on Insurance and Financial Services suggested and ordered 
printed. 
Presented by Representative CRESSEY of Cornish. 
Cosponsored by Senator DAMON of Hancock and 
Il/~ 
/J7.7I/oc~ 
MILLICENT M. MacFARLAND 
Clerk 
Representatives: BERUBE of Lisbon, BIERMAN of Sorrento, BISHOP of Boothbay, CEBRA 
of Naples, OTT of York, PERCY of Phippsburg, SAMPSON of Auburn, Senator: TURNER of 
Cumberland. 
PrinIed on recycled paper 
Be it enacted by the People of the State of Maine as follows: 
Sec. 1. 14 MRSA §6323, sub-§I, as enacted by PL 1993, c. 544, 
§l, is amended to read: 
1. 
Procedures for a11 civi1 actions. 
Upon expiration of 
the period of redemption, if the mortgagorT or the mortgagor's 
successors, heirs or assigns have not redeemed the mortgage, any 
remaining rights of the mortgagor to possession terminate, and 
the mortgagee shall cause notice of a public sale of the premises 
stating the time, place and terms of the sale to be published 
once in each of 3 successive weeks in a newspaper of general 
circulation in the county in which the premises are 10cated~L the 
first publication to be made not more than 90 days after the 
expiration of the period of redemption. The public sale must be 
held not less than 30 days nor more than 45 days after the first 
date of that publication and may be adjourned, for any time not 
exceeding 7 days and from time to time until a sale is made, by 
announcement to those present at each adjournment. The mortgagee, 
in its sole discretion, may allow the mortgagor to redeem or 
reinstate 
the 
loan 
after 
the 
expiration 
of 
the 
period 
of 
redemption but before the public sale. 
The mortgagee may convey 
the property to the mortgagor or execute a waiver of foreclosureL 
and all other rights of all other parties 
remain as if no 
foreclosure had been commenced. 
The mortgagee shall sell the 
premises to the highest bidder at the public sale and deliver a 
deed of that sale ~he writ of possession to the purchaser. 
The deed conveys the premises free and clear of all interests of 
the parties in interest joined in the action. The mortgagee or 
any other party in interest may bid at the public sale. 
I f the 
mortgagee is the highest bidder at the public sale, there is no 
obligation to account for any surplus upon a subsequent sale by 
the mortgagee. Any rights of the mortgagee to a deficiency claim 
against the mortgagors are limited to the amount established as 
of the date of the public sale. 
The date of the public sale is 
the date on which bids are received to establish the sales price, 
no matter when the sale is completed by the delivery of the deed 
to the highest bidder. 
SUMMARY 
This bill requires a lender who sells a property at auction 
after foreclosure to deliver the writ of possession to the buyer 
along with the deed to the property. 
Page I-LR19l6(l)