§ 34-36.1-4.01 - Applicability – Waiver. - Rhode Island Statutes

SECTION 34-36.1-4.01

   § 34-36.1-4.01  Applicability –Waiver. – (a) This article applies to all units subject to this chapter except asprovided in subsection (b) or as modified or waived by agreement of purchasersof units in a condominium in which all units are restricted to nonresidentialuse.

   (b) Neither a public offering statement nor a resalecertificate 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 offoreclosure;

   (5) A disposition to a person in the business of selling realestate who intends to offer those units to purchasers or;

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