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Real Estate | |
Utah Uniform Land Sales Practices Act | |
Section 7 | Public offering statement -- Contents -- Restrictions on use -- Alteration or amendments. |
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57-11-7. Public offering statement -- Contents -- Restrictions on use -- Alteration or
amendments. (1) Every public offering statement shall disclose completely and accurately to prospective purchasers: (a) the physical characteristics of the subdivided lands offered; and (b) unusual and material circumstances or features affecting the subdivided lands. (2) The proposed public offering statement submitted to the division shall be in a form prescribed by its rules and, unless otherwise provided by the division, shall include the following: (a) the name and principal address of the subdivider and the name and principal address of each officer, director, general partner, other principal, or person occupying a similar status or performing similar functions as defined by the rules of the division if the subdivider is a person other than an individual; (b) a general description of the subdivided lands stating the total number of units in the offering; (c) a statement summarizing in one place the significant terms of any encumbrances, easements, liens, severed interests, and restrictions, including zoning and other regulations affecting the subdivided lands and each unit, and a statement of all existing or proposed taxes or special assessments which affect the subdivided lands; (d) a statement of the use for which the property is offered; (e) information concerning: (i) any improvements, including streets, curbs, and gutters, sidewalks, water supply including a supply of culinary water, drainage and flood control systems, irrigation systems, sewage disposal facilities, and customary utilities; (ii) the estimated cost to the purchaser, the estimated date of completion, and the responsibility for construction and maintenance of existing and proposed improvements which are referred to in connection with the offering or disposition; and (iii) if for any reason any of the improvements described in Subsections (2)(e)(i) and (ii) cannot presently be constructed or maintained, a statement clearly setting forth this fact and giving the reasons therefor; (f) (i) a statement of existing zoning or other planned land use designation of each unit and the proposed use of each unit in the subdivision including uses as residential dwellings, agriculture, churches, schools, low density apartments, high density apartments and hotels, and a subdivision map showing the proposed use, the zoning, or other planned land use designation, unless each unit has the same proposed use, zoning, or other planned land use designation; (ii) if the subdivision consists of more than one tract or other smaller division, the information and map required by Subsection (2)(f)(i) need only pertain to the tract or smaller division in which the units offered for disposition are located; (g) a map, which need not be drawn to scale, enabling one unfamiliar with the area in which the subdivision is located to reach the subdivision by road or other thoroughfare from a nearby town or city; (h) (i) the boundary, course, dimensions, and intended use of the right-of-way and easement grants of record; (ii) the location of existing underground and utility facilities; and (iii) any conditions or restrictions governing the location of the facilities within the
right-of-way, and easement grants of record, and utility facilities within the subdivision; and
Amended by Chapter 324, 2010 General Session |
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