76-878. Applicability; waiver.
200 words·~1 min read·
/ne/chapter-76/76-878A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Sections 76-878 to 76-894 apply to all units subject to sections 76-825 to 76-894 , except as provided in subsection
(b)of this section or as modified or waived by agreement of purchasers of units in a condominium in which all units are restricted to nonresidential use.
(b)Neither a public-offering statement nor a resale statement need be prepared or delivered in the case of:
(1)a gratuitous or testamentary disposition of a unit;
(2)a disposition pursuant to court order;
(3)a disposition by a government or governmental agency;
(4)a disposition by foreclosure or deed in lieu of foreclosure;
(5)a disposition to a person in the business of selling real estate who intends to offer those units to a purchaser;
(6)a disposition that may be canceled at any time and for any reason by the purchaser without penalty;
(7)a condominium composed of not more than twenty-five units which is not subject to any development rights to add units, and no power is reserved to a declarant to make the condominium part of a larger condominium, group of condominiums, or other real estate; or
(8)any condominium composed of units not intended for residential use.