Please review the information blow for any disclaimers applicable to your state.
South Dakota
Please note that the South Dakota Department of Revenue and Regulation (Division of Securities) has advised us of their position that a note secured by a contract for deed is a "security" under South Dakota's Securities Act, and therefore, according to that Agency, any person receiving a commission or other remuneration for brokering a transaction in such notes within the state of South Dakota must be registered with the Division of Securities of the state of South Dakota. Accordingly, the Note Network will not permit the submission of notes on its website service for properties located in South Dakota or for brokers or finders located in South Dakota.
The National Note Pros does not provide legal advice, and you should consult with counsel on this issue if you intend to transact business in South Dakota.
Indiana, Maine and Utah Residents
Transactions that involve a note owned, sold, brokered or purchased by a person living or doing business in Maine, Indiana, or Utah may be subject to the securities laws of those states. Depending upon the circumstances of the transaction, those laws may require you to be licensed as a broker / dealer.
It is likely that no federal or state securities agency has registered the note or otherwise reviewed it or the terms of its sale. You must rely on your own examination of the terms of the note, including its merits and risks involved. Purchasing an unsecured note is risky and should not be undertaken unless you can afford to lose your investment.
For more information regarding the above licensing notice, please contact us at
http://howtosellnotes.com/contact-us
Thank you for your understanding.
