(a) The provisions of AS 34.08.510 - 34.08.700 apply to all units subject to this chapter, except as provided in (b) of this section or as modified or waived by agreement of purchasers of units in a common interest community in which each unit is restricted to nonresidential use.
(b) A public offering statement and a resale certificate are not required to be prepared or delivered on
(1) a gratuitous disposition of a unit;
(2) a disposition under a court order;
(3) a disposition by a 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 in a planned community in which the declaration limits the maximum annual assessment of a unit to not more than $300, as adjusted under AS 34.08.820 , if
(A) the declarant has a reasonable and good faith belief that the maximum stated assessment will be sufficient to pay the expenses of the planned community;
(B) the declaration cannot be amended to increase the assessment during the period of declarant control without the consent of all unit owners; and
(C) the planned community is not subject to development rights; or
(8) a disposition of property by a nonprofit development corporation if that corporation is eligible for assistance from the Neighborhood Reinvestment Corporation organized under 42 U.S.C. 8101 - 42 U.S.C. 8107 (Neighborhood Reinvestment Corporation Act) for neighborhood housing services, neighborhood revitalization, and economic development projects in a community.
Section: 34.08.510 34.08.520 34.08.530 34.08.540 34.08.550 34.08.560 34.08.570 34.08.580 34.08.590 34.08.600 34.08.610 34.08.620 34.08.630 34.08.640 34.08.650 NextLast modified: November 15, 2016