Land Use Controls RegulationsHARD
The Interstate Land Sales Full Disclosure Act regulates:
Correct Answer
B) Subdivisions with 25 or more lots sold across state lines
The Interstate Land Sales Full Disclosure Act requires developers of subdivisions with 25 or more lots to register with HUD and provide purchasers with a property report when lots are sold across state lines. This protects buyers from fraudulent land schemes.
Answer Options
A
All interstate real estate transactionsB
Subdivisions with 25 or more lots sold across state linesC
Commercial property sales onlyD
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Related Topics & Key Terms
Related Topics:
disclosure-requirementsfederal-real-estate-regulations
Key Terms:
Interstate Land Sales Full Disclosure ActILSA25 lotsHUD Property Reportsubdivision disclosure
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