What type of statute does Maine use to determine ownership of real property?

Maine employs a Race Notice statute to determine ownership of real property. In a Race Notice system, priority of ownership is granted to the first party to record their interest in the property at the registry of deeds, provided that they did not have prior notice of any conflicting claims.

This means that if a subsequent purchaser acquires an interest in the property without knowledge of an earlier unrecorded interest and then promptly records their deed, they will take precedence over the previous owner, as long as they were the first to record. The core principle here is that it protects those who act in good faith and ensures that the public records are the basis for establishing ownership claims.

This system aims to simplify and clarify real property transactions, reducing the risk of disputes over ownership. Understanding this structure is critical for anyone involved in real estate in Maine, as it emphasizes the importance of both recording property interests and being aware of existing claims.