Title 3 . Commerce, Community, and Economic Development

Chapter 20 . Land Sales

Section 50. General provisions

3 AAC 20.050. General provisions

It is an unfair act or practice for a developer, his agents, servants, employees, or others acting on his behalf

(1) to make a representation with no present intent to perform it;

(2) to fail to reveal to the purchaser or prospective purchaser all terms, conditions, notices, and amounts of any contract, agreement, option, deed, property report, or other evidence of the purchaser's indebtedness;

(3) to substitute another lot, unit, parcel, or interest in land for that purchased or optioned without the knowing, intelligent, and voluntary consent by the purchaser;

(4) to fail to afford to a purchaser all rights, privileges, or advantages that are represented or implied to be available to a purchaser as a result of the purchase;

(5) to represent that a developer, salesman, agent, servant, employee, or others acting on behalf of a developer are conducting a survey, contest, poll, or other similar inquiry, when in fact it is a systematic marketing approach in an effort to sell property;

(6) to represent to a prospective purchaser that he or she is specially selected, if in fact he or she is not;

(7) to use a method of rebate or finance charge which requires or results in a purchaser paying a greater amount of interest or finance charge upon prepayment than if he had financed for a shorter period of time initially.

History: Eff. 4/3/76, Register 58

Authority: AS 34.55.020