---
title: What is a resale exemption?
description: A resale exemption lets an SPV interest be resold without SEC registration. Learn how Sydecar sales rely on Section 4(a)(7) and its 90-day holding period.
---

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# What is a resale exemption?

## A resale exemption is a securities law rule that allows an interest in a private offering to be resold. Sydecar's sales rely on Section 4(a)(7), which requires a 90-day holding period.

A resale exemption is a securities law rule that allows an interest in a private offering to be resold. Sydecar's sales rely on Section 4(a)(7), which requires a 90-day holding period.

Interests in an SPV aren't registered with the SEC, so reselling one needs an exemption. Under Section 4(a)(7), the interest must have been held for at least 90 days before it's sold.

The exemption applies to sales only, not administrative transfers. See [the 90-day holding period](https://help.sydecar.io/90-day-holding-period?hsLang=en) for how the days are counted.

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