(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:

Terms Used In Washington Code 58.19.030

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • developed lands: means land which is divided or is proposed to be divided for the purpose of disposition into twenty-six or more lots, parcels, or units (excluding interests in camping resorts regulated under chapter 19. See Washington Code 58.19.020
  • Disposition: includes any sale, lease, assignment, or exchange of any interest in any real property which is a part of or included within a development, and also includes the offering of property as a prize or gift when a monetary charge or consideration for whatever purpose is required in conjunction therewith, and any other transaction concerning a development if undertaken for gain or profit. See Washington Code 58.19.020
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: means an individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, unincorporated association, two or more of any of the foregoing having a joint or common interest, or any other legal or commercial entity. See Washington Code 58.19.020
  • Purchaser: means a person who acquires or attempts to acquire or succeeds to any interest in land. See Washington Code 58.19.020
  • Statute: A law passed by a legislature.
(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.
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