Posted by John Merchant on March 11, 2009 at 10:31:07:
Generally SEC is not interested or involved in any single-state, or lsss-than-$1M, or single property less than big office bldg, deal so this sounds fishy to me.
I’d suggest you call or drop in on your state’s securities commission office and chat with one of their people to see if your state has such a law.
Here in WA State, a plain vanilla RE deal is normally excluded from their purview or jurisdiction unless its owner or promoter is trying to sell umpteen shares in some kind of fancy share-fragmentation scheme, etc.