(a) General rule.--This
chapter applies to all units subject to this subpart, except as provided
in subsection (b) and section 3411 (relating to warranty against structural
defects) or as modified or waived by agreement of the purchaser of any unit
which is intended for nonresidential use at the time of sale of such unit
by the declarant or by agreement of purchasers of units in a condominium
who are or intend to be in the business of buying and selling condominium
units, provided that:
(1) a purchaser
of a unit intended for residential use at the time of sale by the declarant
may not modify or waive the provisions of section 3411 with regard to such
unit and the common elements;
(2) with regard
to any limited common element appurtenant only to nonresidential units,
the unit owners of all such units have agreed to such modification or waiver
and, with regard to any common elements, other than limited common elements,
in a condominium in which all units are restricted to nonresidential use,
all unit owners have agreed to such modification or waiver; and
(3) no modification
or waiver shall prevent any unit owner from indirectly benefiting from any
provision in this chapter by reason of such unit owner being a unit owner
in the condominium and a member of the association.
(b) Public offering
statements.--A public offering statement need not be prepared or delivered
in the case of:
(1) a gratuitous
transfer of a unit;
(2) a disposition
pursuant to court order;
(3) a disposition
by a government or governmental agency;
(4) a disposition
by foreclosure or deed in lieu of foreclosure;
(5) a disposition
of a condominium situated wholly outside this Commonwealth pursuant to a
contract executed wholly outside this Commonwealth; or
(6) a transfer to
which section 3407 (relating to resales of units) applies.
(c) Resale certificates.--A
resale certificate as described in section 3407 need not be prepared or
delivered in the cases described in subsection (b)(1) through (5).
(d) Unified public
offering statement.--If a unit is part of a condominium and is part of any
other real estate regime in connection with the sale of which the delivery
of a public offering statement is required under the laws of this Commonwealth,
a single public offering statement conforming to the requirements of sections
3402 (relating to public offering statement; general provisions), 3403 (relating
to public offering statement; time-share estates) and 3404 (relating to
public offering statement; condominiums containing conversion buildings)
as those requirements relate to any real estate regimes in which the unit
is located and to any other requirements imposed under the laws of this
Commonwealth may be prepared and delivered in lieu of providing two or more
public offering statements.
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