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The Interstate
Land Sales program protects consumers from fraud and abuse in the sale or lease
of land. In 1968 Congress enacted the Interstate Land Sales Full Disclosure Act,
which is patterned after the Securities Law of 1933 and requires land developers
to register subdivisions of 100 or more non-exempt lots with HUD and to provide
each purchaser with a disclosure document called a Property Report. The Property
Report contains relevant information about the subdivision and must be delivered
to each purchaser before the signing of the contract or agreement. More
Interstate Land Sales Topics:
If
you need more information about the act, or whether it applies to your situation
or not, please e-mail us: Comments
or Questions |
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