§6205. Rights of junior mortgagee
When proceedings for the foreclosure of any prior mortgage of real estate have been instituted by any method provided by law, the owner of any subsequent mortgage of the same real estate or of any part of the same real estate may, at any time before the right of redemption from such prior mortgage has expired, in writing, request the owner of such prior mortgage to assign the same and the debt thereby secured to him, upon his paying to the owner of such prior mortgage, the full amount, including all interest, costs of foreclosure and such other sums as the mortgagor or person redeeming would be required to pay in order to redeem. If the owner of such prior mortgage neglects or refuses to make such assignment within a reasonable time after such written request, the owner of such subsequent mortgage may bring a civil action in the Superior Court for the purpose of compelling the owner of such prior mortgage to assign the same and the debt thereby secured, to him, the owner of such subsequent mortgage, upon making payment. If the court, upon hearing, shall be of the opinion that the owner of such prior mortgage will not be injured or damaged in his property matters and rights by such assignment, and that such assignment will better protect the rights and interests of the owner of such subsequent mortgage, and that the rights and interests of any other person in and to the same real estate, or any part thereof, will not be prejudiced or endangered thereby, the court, in its discretion, may order and decree that such prior mortgage and the debt thereby secured shall be assigned by the owner thereof to the owner of such subsequent mortgage upon his making payment. The time within which and the place where such payment shall be made shall be fixed by the court, and if the parties are unable to agree upon the amount of such payment, the court shall fix and determine the amount. The court may issue all necessary and needful process or processes to enforce any order or decree made under this section. The owner of any prior mortgage assigned under the provisions hereof shall not be holden on nor liable for the debt secured by such mortgage unless he especially agrees in writing by him signed to be so holden or liable. An appeal from any final decree may be taken as in other civil actions.
Structure Maine Revised Statutes
TITLE 14: COURT PROCEDURE -- CIVIL
Part 7: PARTICULAR PROCEEDINGS
Chapter 713: MISCELLANEOUS PROVISIONS RELATING TO FORECLOSURE OF REAL PROPERTY MORTGAGES
Subchapter 3: FORECLOSURE PROCEEDING
14 §6201. Foreclosure by possession (REPEALED)
14 §6202. -- redemption in one year (REPEALED)
14 §6203. Foreclosure without possession (REPEALED)
14 §6203-A. Power of sale; procedure; notice; form
14 §6203-B. Copy of notice; affidavit; recording; evidence
14 §6203-C. Conveyance by mortgagor; effect
14 §6203-D. Limitation of actions
14 §6203-E. Liability for deficiency on sale; necessity of notice; form; affidavit
14 §6203-F. Foreclosure of bond for deed and contracts for sale of real estate
14 §6203-G. Assignment of mortgage
14 §6203-H. Option contract for purchase of real property or rent-to-own real property
14 §6204. Redemption in one year (REPEALED)
14 §6204-A. Disposition of proceeds of foreclosure sale (REPEALED)
14 §6204-B. Disposition of proceeds of sale after foreclosure (REPEALED)
14 §6205. Rights of junior mortgagee
14 §6206. Judgment where nothing due
14 §6207. Action by executor or administrator
14 §6208. Proper party defendant
14 §6209. Real action against mortgagee in possession after mortgage paid