(a) This article applies to all units subject to this chapter except as provided in subsection (b) 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 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;
(6) A disposition that may be cancelled at any time and for any reason by the purchaser without penalty.
History of Section.
P.L. 1982, ch. 329, § 2.