§2712. Disclosure of property mortgaged to trustee
When a trustee states in his disclosure that he had, at the time when the process was served on him, in his possession property not exempted by law from attachment, mortgaged, pledged or delivered to him by the principal defendant to secure the payment of money due to him and that the principal defendant has an existing right to redeem it by payment thereof, the court before which the action is pending shall order that on payment or tender of such money by the plaintiff to said trustee within such time as the court orders and while the right of redemption exists, he shall deliver the property to the officer serving the process, to be held and disposed of as if it had been attached on mesne process; and in default thereof, that he shall be charged as the trustee of the principal debtor. This order shall be entered on the records of the court.
Structure Maine Revised Statutes
TITLE 14: COURT PROCEDURE -- CIVIL
Part 5: PROVISIONAL REMEDIES; SECURITY
Subchapter 1: PROCEDURE BEFORE JUDGMENT
Article 2: EXAMINATION AND DISCLOSURE
14 §2701. Liability of trustee for failure to disclose
14 §2703. Commissioner to take disclosure
14 §2704. Trustee leaving State discloses before notary
14 §2705. Trustee may disclose by consent
14 §2707. Examination of trustee
14 §2708. Disclosure under oath
14 §2709. Trustee may submit statement of facts
14 §2710. Disclosure deemed true
14 §2711. Time extended for trustee to disclose
14 §2712. Disclosure of property mortgaged to trustee
14 §2713. Excess determined by court or jury
14 §2714. On disclosure trustee delivers property to officer