§ 34-36.1-4.01 - Applicability – Waiver.
SECTION 34-36.1-4.01
§ 34-36.1-4.01 Applicability –Waiver. – (a) This article applies to all units subject to this chapter except asprovided in subsection (b) or as modified or waived by agreement of purchasersof units in a condominium in which all units are restricted to nonresidentialuse.
(b) Neither a public offering statement nor a resalecertificate 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 offoreclosure;
(5) A disposition to a person in the business of selling realestate who intends to offer those units to purchasers or;
(6) A disposition that may be cancelled at any time and forany reason by the purchaser without penalty.