According to the Maine Real Estate Commission, which signature is required on the Property Disclosure form?

The requirement regarding the Property Disclosure form in Maine is that no signatures are required for the form itself to be valid. The form serves as a disclosure document that informs potential buyers about the condition of the property and its known issues, rather than a binding contract that necessitates signatures from the buyer or seller.

In practice, while it is advisable for both parties to review and acknowledge the contents of the Disclosure form, especially for clarity and future reference, the absence of a required signature means that the document is not contingent upon being signed to fulfill its purpose of informing the buyer. This aligns with the intention of transparency in real estate transactions, ensuring that buyers are aware of the property's condition without making the form a formal contract requiring consent.

Understanding this aspect of the Property Disclosure form is crucial, as it emphasizes the importance of knowledge and communication in real estate practices, rather than formal agreements alone.