2005 Idaho Code - 55-1805 — EXEMPTIONS

                                  TITLE  55
                             PROPERTY IN GENERAL
                                  CHAPTER 18
                         SALE OR DISPOSITION OF LAND
                          LOCATED OUTSIDE THE STATE
    55-1805.  EXEMPTIONS. 1. Unless the method of disposition is adopted for
the purpose of evasion of this act, the registration provisions of this act do
not apply to offers or dispositions of an interest in land:
    a.  By a purchaser of subdivided lands for his own account in a single or
isolated transaction;
    b.  If fewer than five (5) separate lots, parcels, units, or interests in
subdivided lands are offered by a person in a period of twelve (12) months;
    c.  By any salaried employee in the normal course of his employment for an
owner who is not in the business of making real estate sales when the
transaction is incidental to the principal activities or business of the owner
and where no added incentive such as a bonus or commission or other fee is
paid to the employee for the transaction;
    d.  By any person holding a duly executed power of attorney from the owner
or principal agent of an inactive owner when the power of attorney is executed
for the performance of a specific real estate transaction;
    e.  To persons who are engaged in the business of construction of
buildings for resale or to persons who acquire an interest in subdivided lands
for the purpose of engaging, and do engage, in the business of construction of
buildings for resale;
    f.  Pursuant to court order;
    g.  By any government or government agency; or
    h.  As cemetery lots or interests.
    2.  Unless the method of disposition is adopted for the purpose of evasion
of this act, the registration provisions of this act do not apply to:
    a.  Offers and dispositions of securities currently registered with the
Idaho commissioner of finance; or
    b.  A subdivision as to which the commission has granted an exemption as
provided in section 55-1811.