North Dakota § 43-23.1-05 Exemptions

North Dakota Statutes

§ 43-23.1-05 — Exemptions

North Dakota § 43-23.1-05

Title 43Occupations and Professions

Ch. 43-23.1Subdivided Lands Disposition Act

This text of North Dakota § 43-23.1-05 (Exemptions) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 43-23.1-05 (2026).

Text

1.Unless the method of disposition is adopted for the purpose of evasion of this chapter, the registration provisions of this chapter do not apply to offers or disposition of an interest in land:

a.By a purchaser of subdivided lands for the purchaser's own account in a single or isolated transaction;

b.If fewer than five separate lots, parcels, units, or interests in subdivided lands are offered by a person in a period of twelve months;

c.To persons who are engaged in the business of construction of buildings for resale or to persons who acquire an interest in subdivided lands for the purpose of engaging, and do engage, in the business of construction of buildings for resale;

d.Pursuant to court order;

e.By any government or government agency; or

f.As cemetery lots or interests. 2.

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1. Unless the method of disposition is adopted for the purpose of evasion of this chapter,
the registration provisions of this chapter do not apply to offers or disposition of an
interest in land:
a. By a purchaser of subdivided lands for the purchaser's own account in a single or
isolated transaction;
b. If fewer than five separate lots, parcels, units, or interests in subdivided lands are
offered by a person in a period of twelve months;
c. To persons who are engaged in the business of construction of buildings for
resale or to persons who acquire an interest in subdivided lands for the purpose
of engaging, and do engage, in the business of construction of buildings for
resale;
d. Pursuant to court order;
e. By any government or government agency; or
f. As cemetery lots or interests.

2. Unless the method of disposition is adopted for the purpose of evasion of this chapter,
the registration provisions of this chapter do not apply to:
a. Offers and dispositions of securities currently registered with the North Dakota
insurance department;
b. A subdivision as to which the plan of disposition is to dispose to ten or fewer
persons; or
c. A subdivision as to which the commission has granted an exemption as provided
in section 43-23.1-11.
3. Unless the method of disposition is adopted for the purpose of evasion of this chapter,
the registration provisions of this chapter do not apply to the sale or lease of any
improved land on which there is a residential, commercial condominium, or industrial
building or the sale or lease of land under a contract obligating the seller or lessor to
erect such a building thereon within a period of two years.