Applicability; waiver

(a) This Article applies to all units subject to this chapter, except as provided in subsection (b) or as modified or waived by agreement of purchasers of units in a condominium in which all units are restricted to nonresidential use. (b) Neither a public offering statement nor a resale certificate need be prepared or delivered in the case of a disposition which is: (1) Gratuitous; (2) Pursuant to court order; (3) By a government or governmental agency; (4) By foreclosure or deed in lieu of foreclosure; (5) To a person in the business of selling real estate who intends to offer those units to purchasers; or (6) Subject to cancellation at any time for any reason by the purchasers without penalty. (1985 (Reg. Sess., 1986), c. 877, s. 1.)