Section 202 – License required.

Effective 5/10/2016 57-29-202. License required. Except as provided by Section 61-2f-202, a person may not offer, sell, or otherwise dispose of an undivided fractionalized long-term estate unless the person is licensed by the division under Title 61, Chapter 2f, Real Estate Licensing and Practices Act, as a principal broker, associate broker, or sales agent. Enacted […]

Section 203 – Required disclosures.

Effective 5/10/2016 57-29-203. Required disclosures. (1) A sponsor or licensee who sells or offers to sell an undivided fractionalized long-term estate shall provide each prospective purchaser a written disclosure, related to the real property in which the undivided fractionalized long-term estate is offered, that: (a) if applicable: (i) includes a copy of any master lease […]