South Dakota Codified Laws 43-15A-10. Notice of intent to sell domestic condominium–Contract voidable if notice not given
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Prior to the time when a domestic condominium project is to be offered for sale in this state, the developer shall notify the real estate commission in writing of his intention to sell such offerings. If the developer fails to notify the commission as provided in this chapter, the purchaser may at his option void the contract for sale.
Terms Used In South Dakota Codified Laws 43-15A-10
- Condominium: as used in this chapter , unless the context otherwise requires, shall mean an estate in real property consisting of an undivided interest in portions of a parcel of real property together with a separate interest in space in a residential, industrial, or commercial building or industrial and commercial building on such real property, such as, but not restricted to, an apartment, office, or store. See South Dakota Codified Laws 43-15A-2
- Contract: A legal written agreement that becomes binding when signed.
Source: SL 1975, ch 270, § 6; SL 1986, ch 302, § 80.