A Maine commercial lease agreement is a legal document that dictates how a business can rent a commercial space from a landlord. It specifies the rental payment amount, lease term, security deposit, and renewal options. This document is often more complex than a residential lease, as it can extend for longer and contain more provisions.
Depending on the tenant’s scope of business, they may use this lease agreement to rent a factory, retail store, or office building. The landlord will record how the tenant can and cannot use the property, giving the tenant clear guidelines for building occupancy.
Maine Business Entity Search: A landlord can look up the status of a business interested in tenancy to ensure it’s allowed to operate in the state.
REQUIREMENTS
Rental Laws: Maine Revised Statutes Title 11, Article 2A.
Consumer Protection Laws: ME Rev. Stat. §11-2A-1104.
Jurisdiction: According to ME Rev. Stat. §11-2A-1106, the legal jurisdiction must be one in which the lessee resides at the time the agreement becomes enforceable or within 30 days thereafter or in which the rented property is located. Even if the parties agree to another jurisdiction that falls outside this definition, it won’t be valid.
