1.  Sections 448.4-101 to 448.4-120 apply to all units subject to sections 448.1-101 to 448.4-120, except as provided in subsection 2 of this section or as modified or waived by agreement of purchasers of units in a condominium in which all units are restricted to nonresidential use.

 2.  Neither an original sale certificate nor a resale certificate need be prepared or delivered in the case of:

Terms Used In Missouri Laws 448.4-101

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020

 (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 of foreclosure;

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

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