43-23.1-02. Definitions

43-23.1-02. Definitions When used in this chapter, unless the context otherwise requires: 1. "Commission" means the state real estate commission. 2. "Disposition" includes sale, lease, assignment, award by lottery, or any other transaction concerning a subdivision, if undertaken for gain or profit. 3. "Offer" includes any inducement, solicitation, or attempt to encourage a person to acquire an interest in land, if undertaken for gain or profit. 4. "Person" means an individual, corporation, limited liability company, government, or governmental subdivision or agency, business trust, estate, trust, partnership, unincorporated association, two or more of any of the foregoing having a joint or common interest, or any other legal or commercial entity. 5. "Purchaser" means a person who acquires or attempts to acquire or succeeds to an interest in land. 6. "Subdivider" means any owner of subdivided land who offers it for disposition or the principal agent of an inactive owner. 7. "Subdivision" and "subdivided lands" means any land situated outside the state of North Dakota which is divided or is proposed to be divided for the purpose of disposition into five or more lots, parcels, units, or interests and also includes any land, whether contiguous or not, if five or more lots, parcels, units, or interests are offered as a part of a common promotional plan of advertising and sale.