Maine — Residential Real Estate Property Preservation Services Provider Bond
Maine's current guidance calls for a $15,000 bond for applicants limited to residential real estate property preservation, with the same sum at renewal. Use the Bureau's property-preservation bond, not a repossession or general collection form. The separate property-preservation license does not authorize collecting consumer funds for clients.
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- Recorded state
- Maine
- Bond type
- Collection Agency Bond
- Category
- Financial services
- Local scope
- Authority
- Identified authority / locality
- Maine Superintendent of Consumer Credit Protection
What this bond does
The Bureau's continuous model secures the licensed provider's faithful compliance with state law, including Maine's Fair Debt Collection Practices Act and rules. It also includes reporting and payment of net collections or delivery of repossessed property. That broad bond wording does not expand the activities authorized by the limited-purpose property-preservation license.
- Who needs it
- Providers regularly performing or arranging covered residential entries at a mortgage holder's or enforcer's direction, where the mortgage is in default or the property is presumed abandoned. The statutory examples are winterizing, changing locks and removing unsecured items. Specific financial and professionally licensed providers are excluded; ordinary property maintenance is not automatically this licensed activity.
- Who it protects
- The model runs to the Superintendent of the Bureau of Consumer Credit Protection for people with a cause of action against the bond's obligors. It covers claims collected, property converted and losses occasioned by the licensee beginning at the bond's initial effective date, subject to the complete condition. Aggregate surety liability cannot exceed the bond sum; the bond does not itself authorize entry into a property or resolve ownership rights.
Your bond option
This is the option on record for this bond.
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The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- Maine Bureau collection, repossession and property-preservation licensing (opens in a new tab)Checked October 27, 2026
- Maine Bureau residential property preservation continuous bond (opens in a new tab)Checked October 27, 2026
- Maine Bureau property preservation application — July 9, 2026 (opens in a new tab)Checked October 27, 2026
- Maine section 11002 — property-preservation definitions (opens in a new tab)Checked October 27, 2026
Have these ready
- Confirm covered mortgage-directed property-preservation work and any statutory exclusion.
- Match formal business and DBA names, address and actual activities.
- Keep the $15,000 bond separate from the application's $10,000 net-worth qualification.
- Prepare the requested inventory, inspection, lender or servicer reports and worker information.
- Complete principal and surety signatures and notarial acknowledgments, then confirm Bureau submission.
Questions about this bond
Does this license let us collect consumer payments?
The Bureau's property-preservation application expressly says the license does not entitle the applicant to collect funds from consumers on behalf of clients. The model's broader collection and property language does not expand that limited-purpose authority.
Is the bond $10,000 or $15,000?
The current programme specifies $15,000 for property-preservation-only initial and renewal security. The current application separately asks for a financial statement showing $10,000 company net worth. They are different requirements.
Is this the repossession company's bond?
Use the Bureau's named residential real estate property preservation model for this request. The programme distinguishes property-preservation, repossession and other debt collection activities even where their security sums coincide. A matching dollar amount does not establish interchangeable forms or licenses.