§ 47C-4-101. Applicability; waiver. - North-carolina Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_47C > GS_47C-4-101

Article 4.

Protection of Purchasers.

§ 47C‑4‑101. Applicability; waiver.

(a) This Article applies to all units subject to this chapter,except as provided in subsection (b) or as modified or waived by agreement ofpurchasers of units in a condominium in which all units are restricted tononresidential use.

(b) Neither a public offering statement nor a resale certificateneed be prepared or delivered in the case of a disposition which is:

(1) Gratuitous;

(2) Pursuant to court order;

(3) By a government or governmental agency;

(4) By foreclosure or deed in lieu of foreclosure;

(5) To a person in the business of selling real estate whointends to offer those units to purchasers; or

(6) Subject to cancellation at any time for any reason by thepurchasers without penalty. (1985 (Reg. Sess., 1986), c. 877, s. 1.)

State Codes and Statutes

Statutes > North-carolina > Chapter_47C > GS_47C-4-101

Article 4.

Protection of Purchasers.

§ 47C‑4‑101. Applicability; waiver.

(a) This Article applies to all units subject to this chapter,except as provided in subsection (b) or as modified or waived by agreement ofpurchasers of units in a condominium in which all units are restricted tononresidential use.

(b) Neither a public offering statement nor a resale certificateneed be prepared or delivered in the case of a disposition which is:

(1) Gratuitous;

(2) Pursuant to court order;

(3) By a government or governmental agency;

(4) By foreclosure or deed in lieu of foreclosure;

(5) To a person in the business of selling real estate whointends to offer those units to purchasers; or

(6) Subject to cancellation at any time for any reason by thepurchasers without penalty. (1985 (Reg. Sess., 1986), c. 877, s. 1.)

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State Codes and Statutes

Statutes > North-carolina > Chapter_47C > GS_47C-4-101

Article 4.

Protection of Purchasers.

§ 47C‑4‑101. Applicability; waiver.

(a) This Article applies to all units subject to this chapter,except as provided in subsection (b) or as modified or waived by agreement ofpurchasers of units in a condominium in which all units are restricted tononresidential use.

(b) Neither a public offering statement nor a resale certificateneed be prepared or delivered in the case of a disposition which is:

(1) Gratuitous;

(2) Pursuant to court order;

(3) By a government or governmental agency;

(4) By foreclosure or deed in lieu of foreclosure;

(5) To a person in the business of selling real estate whointends to offer those units to purchasers; or

(6) Subject to cancellation at any time for any reason by thepurchasers without penalty. (1985 (Reg. Sess., 1986), c. 877, s. 1.)