Immediately upon the sale by the board of university and school lands, the purchaser shall execute a purchase agreement for a cash sale or a contract in the form prescribed by the board. The failure of a purchaser to execute a purchase agreement or a contract constitutes a forfeiture of the payment made at or before the sale. When a purchase agreement or contract is executed properly by the commissioner, a copy must be delivered to the purchaser.
N.D. Cent. Code § 15-06-28
Execution of contract - Failure
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.