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Chapter 448

Effective - 28 Aug 1983bottom

  448.4-101.  Applicability — waiver. — 1.  Sections 448.4-101 to 448.4-120 apply to all units subject to sections 448.1-101 to 448.4-120, except as provided in subsection 2 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.

  2.  Neither an original sale certificate 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 person in the business of selling real estate who intends to offer those units to purchasers or to renters; or

  (6)  A disposition which may be cancelled at any time and for any reason by the purchaser without penalty.


(L. 1983 H.B. 177)

---- end of effective   28 Aug 1983 ----

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