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15 U.S.C. § 1711 — Limitation of actions

Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 1711 — Limitation of actions

**(a) Section 1703(a) violations** No action shall be maintained under [section 1709 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1709&num=0&edition=prelim) with respect to— (1) a violation of subsection (a)(1) or (a)(2)(D) of [section 1703 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1703&num=0&edition=prelim) more than three years after the date of signing of the contract of sale or lease; or (2) a violation of subsection (a)(2)(A), (a)(2)(B), or (a)(2)(C) of [section 1703 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1703&num=0&edition=prelim) more than three years after discovery of the violation or after discovery should have been made by the exercise of reasonable diligence. **(b) Section 1703(b) to (e) violations** No action shall be maintained under [section 1709 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1709&num=0&edition=prelim) to enforce a right created under subsection (b), (c), (d), or (e) of [section 1703 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1703&num=0&edition=prelim) unless brought within three years after the signing of the contract or lease, notwithstanding delivery of a deed to a purchaser.

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Stable record: federal_law:legal_authorities:record_usc_026f64e3a54f2a0b075eaafe
Source file: Laws/federal/codes/united-states-code/title-15/section-1711-limitation-of-actions--79511f5d36.md
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Source location: Title 15, Chapter 42, § 1711; chapter-042-interstate-land-sales.md

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 1709 — Civil liabilities

**(a) Violations; relief recoverable** A purchaser or lessee may bring an action at law or in equity against a developer or agent if the sale or lease was made in violation of [section 1703(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1703/a&num=0&edition=prelim). In a suit authorized by this subsection, the court may order damages, specific performance, or such other relief as the court deems fair, just, and equitable. In determining such relief the court may take into account, but not be limited to, the following factors: the contract price of the lot or leasehold; the amount the purchaser or lessee actually paid; the cost of any improvements to the lot; the fair market value of the lot or leasehold at the time relief is determined; and the fair market value of the lot or leasehold at the time such lot was purchased or leased. **(b) Enforcement of rights by purchaser or lessee** A purchaser or lessee may bring an action at law or in equity against the seller or lessor (or successor thereof) to enforce any right under subsection (b), (c), (d), or (e) of [section 1703 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1703&num=0&edition=prelim). **(c) Amounts recoverable** The amount recoverable in a suit authorized by this section may include, in addition to matters specified in subsections (a) and (b), interest, court costs, and reasonable amounts for attorneys’ fees, independent appraisers’ fees, and travel to and from the lot. **(d) Contributions** Every person who becomes liable to make any payment under this section may recover contribution as in cases of contract from any person who, if sued separately, would have been liable to make the same payment.

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 1701 — Definitions

For the purposes of this chapter, the term— (1) “Director” means the Director of the Bureau of Consumer Financial Protection; (2) “person” means an individual, or an unincorporated organization, partnership, association, corporation, trust, or estate; (3) “subdivision” means any land which is located in any State or in a foreign country and is divided or is proposed to be divided into lots, whether contiguous or not, for the purpose of sale or lease as part of a common promotional plan; (4) “common promotional plan” means a plan, undertaken by a single developer or a group of developers acting in concert, to offer lots for sale or lease; where such land is offered for sale by such a developer or group of developers acting in concert, and such land is contiguous or is known, designated, or advertised as a common unit or by a common name, such land shall be presumed, without regard to the number of lots covered by each individual offering, as being offered for sale or lease as part of a common promotional plan; (5) “developer” means any person who, directly or indirectly, sells or leases, or offers to sell or lease, or advertises for sale or lease any lots in a subdivision; (6) “agent” means any person who represents, or acts for or on behalf of, a developer in selling or leasing, or offering to sell or lease, any lot or lots in a subdivision; but shall not include an attorney at law whose representation of another person consists solely of rendering legal services; (7) “blanket encumbrance” means a trust deed, mortgage, judgment, or any other lien or encumbrance, including an option or contract to sell or a trust agreement, affecting a subdivision or affecting more than one lot offered within a subdivision except that such term shall not include any lien or other

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 1703 — Requirements respecting sale or lease of lots

**(a) Prohibited activities** It shall be unlawful for any developer or agent, directly or indirectly, to make use of any means or instruments of transportation or communication in interstate commerce, or of the mails— (1) with respect to the sale or lease of any lot not exempt under [section 1702 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1702&num=0&edition=prelim)— (A) to sell or lease any lot unless a statement of record with respect to such lot is in effect in accordance with [section 1706 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1706&num=0&edition=prelim); (B) to sell or lease any lot unless a printed property report, meeting the requirements of [section 1707 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1707&num=0&edition=prelim), has been furnished to the purchaser or lessee in advance of the signing of any contract or agreement by such purchaser or lessee; (C) to sell or lease any lot where any part of the statement of record or the property report contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein pursuant to sections 1704 through 1707 of this title or any regulations thereunder; or (D) to display or deliver to prospective purchasers or lessees advertising and promotional material which is inconsistent with information required to be disclosed in the property report; or (2) with respect to the sale or lease, or offer to sell or lease, any lot not exempt under [section 1702(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1702/a&num=0&edition=prelim)— (A) to employ any device, scheme, or artifice t

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 1711 — Limitation of actions

Page 1677 TITLE 15—COMMERCE AND TRADE § 1712 1 So in original. Probably should be ‘‘Director’s’’. § 1710. Court review of orders (a) Petition; jurisdiction; findings of Director; ad- ditional evidence; finality Any person, aggrieved by an order or deter- mination of the Director issued after a hearing, may obtain a review of such order or determina- tion in the court of appeals of the United States, within any circuit wherein such person resides or has his principal place of business, or in the United States Court of Appeals for the District of Columbia, by filing in such court, within sixty days after the entry of such order or deter- mination, a written petition praying that the order or determination of the Director be modi- fied or be set aside in whole or in part. A copy of such petition shall be forthwith transmitted by the clerk of the court to the Director, and thereupon the Director shall file in the court the record upon which the order or determina- tion complained of was entered, as provided in section 2112 of title 28. No objection to an order or determination of the Director shall be consid- ered by the court unless such objection shall have been urged before the Director. The finding of the Director as to the facts, if supported by substantial evidence, shall be conclusive. If ei- ther party shall apply to the court for leave to adduce additional evidence, and shall show to the satisfaction of the court that such addi- tional evidence is material and that there were reasonable grounds for failure to adduce such evidence in the hearing before the Director, the court may order such additional evidence to be taken before the Director and to be adduced upon a hearing in such manner and upon such terms and conditions as to the court

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