58-3303. Exemptions. - Kansas Statutes

58-3303

Chapter 58.--PERSONAL AND REAL PROPERTY Part 6.--MISCELLANEOUS PROVISIONS Article 33.--UNIFORM LAND SALES PRACTICES ACT

      58-3303.   Exemptions.(a) Unless the method of disposition is adopted for the purpose ofevasion of this act, the provisions of this act do not apply to offers ordispositions of an interest in land:

      (1)   By a purchaser of subdivided lands for his or her own account in a singleor isolated transaction;

      (2)   if fewer than fifty (50) separate lots, parcels, units orinterests in subdivided lands are offered by a person in a period of twelve(12) months;

      (3)   on which there is a residential, commercial, or industrial building,or as to which there is a legal obligation on the part of the seller toconstruct such a building within two (2) years from date of disposition;

      (4)   to persons who are engaged in the business of construction ofbuildings for resale, or to persons who acquire an interest in subdividedlands for the purpose of engaging, and do engage in the business ofconstruction of buildings for resale;

      (5)   pursuant to court order;

      (6)   by any government or government agency;

      (7)   as cemetery lots or interests.

      (b)   Unless the method of disposition is adopted for the purpose ofevasion of this act, the provisions of this act do not apply to:

      (1)   Offers or dispositions of evidences of indebtedness secured by amortgage or deed of trust or real estate;

      (2)   offers or dispositions of securities or units of interest issued bya real estate investment trust regulated under any state or federalstatute;

      (3)   a subdivision as to which the plan of disposition is to dispose toten (10) or fewer persons.

      History:   L. 1967, ch. 311, § 3; L. 1976, ch. 241, § 2; July 1.