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Interstate Land Sales Full Disclosure Act |
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Interstate Land Sales Full Disclosure Act A federal law passed in response to abuses in the sale and development of large subdivision projects. Developers often took large deposits or even sold lots and then did not begin development for many years.The law requires registration of the subdivision with the federal government and mandates certain disclosures and rescission (contract cancellation) periods to consumers.Subdivisions of less than various size limits or those that will be completed within specified time limits are exempt, as are subdivisions in states certified as having substantially similar laws. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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