543C.1 Definitions. As used in this chapter, unless the context otherwise indicates:1. 'Advertisement' means the attempt by dissemination, solicitation, or circulation to directly or indirectly induce any person to enter into any obligation or acquire any title orinterest in land offered for sale or lease to the public in this state. 2. 'Commission' means the real estate commission as established by chapter 543B.3. 'Sale' means any sale, offer for sale, or attempt to sell or lease any land, to the public in this state, for cash or on credit. 4. 'Subdivided land' means improved or unimproved land divided or proposed to be divided for the purpose of sale or lease into five or more lots or parcels, or additions or partsof lots or parcels; however, subdivided land does not include a subdivision subject to section306.21 or chapter 354 nor the leasing of apartments, offices, stores, or similar space withinan apartment building, industrial building, or commercial building unless an undividedinterest in the land is granted as a condition precedent to occupying space in the structure.Subdivided land does not include subdivisions of land located within the state of Iowa ortime-share dividedinterest in the land is granted as a condition precedent to occupying space in the structure.Subdivided land does not include subdivisions of land located within the state of Iowa ortime-share intervals as defined in section 557A.2. 5. 'Subdivider' means any person, firm, partnership, company, corporation, or association engaging directly or through an agent in the business of selling or leasingsubdivided land, or of offering such land for sale or lease, to the public in this state. [C75, 77, 79, 81, §117A.1]85 Acts, ch 155, §22; 90 Acts, ch 1236, §42C93, §543C.12021 Acts, ch 76, §133 Sat Dec 23 01:45:55 2023 Iowa Code 2024, Section 543C.1 (18, 1)
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