§ 43-23.1-18 — Civil remedy

North Dakota § 43-23.1-18

• Jurisdiction: North Dakota
• Title 43: Occupations and Professions
• Ch. 43-23.1: Subdivided Lands Disposition Act

Text

1. Every disposition made in violation of any of the provisions of this chapter, or of any
order issued by the commission under any of the provisions of this chapter, is voidable
at the election of the purchaser. The person making such disposition, and every
director, officer, salesperson, or agent of or for such person who has participated or
aided in any way in making such disposition, shall be jointly and severally liable to
such purchaser in any action at law in any court of competent jurisdiction for the
consideration paid for the lot, parcel, unit, or interest, together with interest at the rate
of six percent per year from the date of payment, property taxes and assessments
paid, court costs, and reasonable attorney's fees, less the amount of any income
received from the subdivided lands, upon tender of appropriate instruments of
reconveyance made at any time before the entry of judgment. If the purchaser no
longer owns the lot, parcel, unit, or interest in subdivided lands, that person may
recover the amount that would be recoverable upon a tender of a reconveyance less
the value of the land when disposed of and less interest at the rate of six percent per
year on that amount from the date of disposition.
2. No action may be brought under this section for the recovery of the consideration paid
after five years from the date of such disposition nor more than three years after the
purchaser has received information as to matter or matters upon which the proposed
recovery is based, whichever occurs first.
3. Any stipulation or provision purporting to bind any person acquiring subdivided lands
to waive compliance with this chapter or any rule or regulation or order under it is void.
4. The rights and remedies provided by this chapter are in addition to any and all other
rights and remedies that may exist at law or in equity.