Maryland Statutes
Title 11A - Maryland Real Estate Time-Sharing Act
Section 11A-123 - Persons Not Required to Register

Persons engaged in the following transactions involving time–shares are not required to register with the Commission, to prepare a public offering statement, or to deliver documents described in § 11A–115 of this title:
        (1)    A gratuitous disposition;
        (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 or by enforcement of a lien or security interest;
        (5)    A disposition that may be canceled at any time and for any reason by the purchaser without penalty;
        (6)    A disposition of a time–share in a unit situated wholly outside this State pursuant to a contract executed and negotiated wholly outside this State; or
        (7)    A disposition of a time–share project or all time–shares therein to one purchaser.

Structure Maryland Statutes