§ 4-101.

148 words·~1 min read·/vt/4-101-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

§ 4-101. Waiver

(a)This article applies to all units subject to this title, except as provided in subsection

(b)of this section or as modified or waived by agreement of purchasers of units in a common interest community in which all units are restricted to nonresidential use.

(b)Neither a public offering statement nor a resale certificate need be prepared or delivered in the case of:

(1)a gratuitous 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 dealer;

(6)a disposition that may be canceled at any time and for any reason by the purchaser without penalty;

(7)a disposition of a unit restricted to nonresidential purposes. (Added 1997, No. 104 (Adj. Sess.), § 3, eff. Jan. 1, 1999.)