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- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 abstract "The Interstate Land Sales Full Disclosure Act of 1968 (ILSFDA or ILSA or "Act") was an act of Congress passed in 1968 to facilitate regulation of interstate land sales, to protect consumers from fraud and abuse in the sale or lease of land. The Act was patterned after the Securities Act of 1933 and required land developers to register subdivisions of (currently 100 or more) non-exempt lots or condominium units. Originally, the filings were to be with the United States Department of Housing and Urban Development. Currently, the responsibility for administering the Act and its regulations is with the Consumer Financial Protection Bureau (CFPB). A regulated developer is 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 and gives the purchaser at a minimum a 7-day period to cancel the purchase agreement.In 2013, the bill To amend the Interstate Land Sales Full Disclosure Act to clarify how the Act applies to condominiums (H.R. 2600) was introduced into the United States House of Representatives by Rep. Carolyn B. Maloney. On September 27, 2013, the House of Representatives passed H.R. 2600 by a vote of 410-0. The bill would provide an exemption for condominiums from ILSA's registration requirements and would apply to all new constructions after enactment.Currently, condominium developers who fail to comply with ILSA, or satisfy an exemption, are at risk of facing claims by buyers seeking to rescind otherwise valid purchase contracts within two years of the signing of the contracts. As a result of the recent economic downturn, a significant number of these claims were filed in courts throughout the country by buyers who signed purchase contracts prior to the downturn, seeking to avoid their contractual obligations to close when home prices fell and the real estate market plunged. This change in federal law would be significant for developers of condominium projects who have, historically, had to satisfy a statutory exemption or comply with rigorous registration and disclosure requirements, even though condominiums were not contemplated when ILSA was enacted in 1968.".
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageExternalLink the-interstate-land-sales-full-disclosure-act-is-ilsa-a-land-mine-ready-to-explode-for-condo-developers.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageExternalLink about-jared-beck.
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- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLink Abuse.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLink Act_of_Congress.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLink Category:United_States_federal_commerce_legislation.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLink Consumer_Financial_Protection_Bureau.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLink Fraud.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLink Lease.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLink Public_Law_113-167.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLink Regulation.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLink Securities_Act_of_1933.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLink To_amend_the_Interstate_Land_Sales_Full_Disclosure_Act_to_clarify_how_the_Act_applies_to_condominiums.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLink United_States_Department_of_Housing_and_Urban_Development.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLink United_States_House_of_Representatives.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLinkText "ILSA".
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLinkText "ILSFDA".
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLinkText "Interstate Land Sales Full Disclosure Act of 1968".
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 wikiPageWikiLinkText "Interstate Land Sales".
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- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 subject Category:United_States_federal_commerce_legislation.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 hypernym Act.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 type Band.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 comment "The Interstate Land Sales Full Disclosure Act of 1968 (ILSFDA or ILSA or "Act") was an act of Congress passed in 1968 to facilitate regulation of interstate land sales, to protect consumers from fraud and abuse in the sale or lease of land. The Act was patterned after the Securities Act of 1933 and required land developers to register subdivisions of (currently 100 or more) non-exempt lots or condominium units.".
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 label "Interstate Land Sales Full Disclosure Act of 1968".
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- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 sameAs Q6057063.
- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 sameAs Q6057063.
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- Interstate_Land_Sales_Full_Disclosure_Act_of_1968 isPrimaryTopicOf Interstate_Land_Sales_Full_Disclosure_Act_of_1968.