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15 U.S.C. § 3604Exemptions

submitted 46 years ago by Pub. L. 96-399 to r/title-15-COMMERCE-AND-TRADE · 139 words · no verdicts yet

in plain englishAI-generated · not legal advice

This chapter does not apply to the listed government-sold units, nonresidential projects, or specified leases and leasehold interests. The exemptions cover cooperative and condominium property in the circumstances stated.

The provisions of this chapter must not apply to— (1) a cooperative or condominium unit sold or offered for sale by the Federal Government, by any State or local government, by any corporate instrumentality of the United States, or by any agency thereof; (2) a cooperative or condominium project in which all units are restricted to nonresidential purposes or uses; or (3) any lease or portion thereof— (A) which establishes any leasehold or other estate or interest in, over or under land on or in which one or more residential condominium or cooperative units are located, the termination of which will end the condominium or cooperative project, or reduce the number of units in such project, or (B) which establishes a leasehold interest in, or other rights to use, possess, or gain access to, a condominium or cooperative unit.
the actual law source: uscode.house.gov ↗public domain

The provisions of this chapter shall not apply to—

(1)

a cooperative or condominium unit sold or offered for sale by the Federal Government, by any State or local government, by any corporate instrumentality of the United States, or by any agency thereof;

(2)

a cooperative or condominium project in which all units are restricted to nonresidential purposes or uses; or

(3)

any lease or portion thereof—

(A)

which establishes any leasehold or other estate or interest in, over or under land on or in which one or more residential condominium or cooperative units are located, the termination of which will terminate the condominium or cooperative project, or reduce the number of units in such project, or

(B)

which establishes a leasehold interest in, or other rights to use, possess, or gain access to, a condominium or cooperative unit.

Source credit: (Pub. L. 96–399, title VI, § 605, Oct. 8, 1980, 94 Stat. 1675.)

history & why it existsrecord from the source credit
  • 1980Enacted · Pub. L. 96-399 · 94 Stat. 1675

A history note hasn’t been published yet. The record shows enactment by Pub. L. 96-399 on 1980-10-08.

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