WASHINGTON STATUTES AND CODES

58.19.030 - Exemptions from chapter.

Exemptions from chapter.

(1) Unless the method of disposition is adopted for the purpose of evasion of this chapter, the provisions of this chapter shall not apply to land and offers or dispositions:

     (a) By a purchaser of developed lands for his or her own account in a single or isolated transaction;

     (b) If fewer than ten separate lots, parcels, units, or interests in developed lands are offered by a person in a period of twelve months;

     (c) If each lot offered in the development is five acres or more;

     (d) 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 to construct such a building within two years from date of disposition;

     (e) To any person who acquires such lot, parcel, unit or interest therein for the purpose of engaging in the business of constructing residential, commercial, or industrial buildings or for the purpose of resale or lease or other disposition of such lots to persons engaged in such business or businesses;

     (f) Any lot, parcel, unit or interest if the development is located within an area incorporated prior to January 1, 1974;

     (g) Pursuant to court order; or

     (h) As cemetery lots or interests.

     (2) Unless the method of disposition is adopted for the purpose of evasion of this chapter, the provisions of this chapter shall not apply to:

     (a) Offers or dispositions of evidence of indebtedness secured by a mortgage or deed of trust of real estate;

     (b) Offers or dispositions of securities or units of interest issued by a real estate investment trust regulated under any state or federal statute;

     (c) A development as to which the director has waived the provisions of this chapter;

     (d) Offers or dispositions of securities currently registered with the department of financial institutions;

     (e) Offers or dispositions of any interest in oil, gas, or other minerals or any royalty interest therein if the offers or dispositions of such interests are regulated as securities by the United States or by the department of financial institutions.