Application of disclosure statement requirements

Sections 43-4-37 to 43-4-44 , inclusive, do not apply to the following transfers: (1) Transfers pursuant to court order, including transfers ordered by probate court in the administration of an estate, transfers between spouses resulting from a judgment of dissolution of marriage or legal separation, transfer pursuant to a writ of execution, transfers by a trustee in bankruptcy, transfers by eminent domain, transfers by government agencies, and transfers resulting from a decree for specific performance; (2) Transfers to a mortgagee by a mortgagor in default, transfers by any foreclosure sale after default in an obligation secured by a mortgage, transfers by a mortgagee or a beneficiary under a deed of trust who has acquired the real property by foreclosure or by a deed in lieu of foreclosure or transfers by a collateral assignment of beneficial interest; (3) Transfers by a fiduciary in the course of the administration of a decedent's estate, guardianship, conservatorship, or trust; (4) Transfers from one co - owner to one or more other co - owners; (5) Transfers made to a spouse, a child, a parent, a sibling, a grandchild, or a grandparent; (6) Transfers of newly constructed residential real property which has never been occupied. Source: SL 1993, ch 325 , § 7; SL 1994, ch 337 , § 5.