2801.5. “Subdivider” Defined.
The term “any person” in Section 11010 and the terms “owner” and “subdivider” in Sections 11012 and 11018.1 of the
Code include any person, who at any point in time, owns, or has an option or contract to acquire, the subdivision interests
listed in (a) or (b) below for purposes of sale, lease or financing if the subdivision interests were acquired or are to be
acquired from the original recipient of a public report for the subdivided land, or from a person who succeeded to the
interest of the original recipient in five or more subdivision interests in a subdivision other than a time-share project or
in twelve or more time-share estates or uses in a time-share project:
(a) Five or more subdivision interests in a subdivision other than a time-share project.
(b) Twelve or more time-shares estates or time-share uses in a time-share project.
Except as provided in Section 11010.5 of the Code, an “owner” or “subdivider” as herein defined shall not offer for sale
or lease, nor cause to be offered for sale or lease, any of the subdivision interests herein above referred to unless a
subdivision public report has been issued by the Bureau expressly authorizing the sale or lease of the interests by or on
behalf of said owner or subdivider.