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15 U.S.C. § 1705 — Information required in statement of record

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

15 U.S.C. § 1705 — Information required in statement of record

Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1705

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Stable record: federal_law:legal_authorities:record_usc_515afb90ec61dc52d4918ef5
Source file: Laws/federal/codes/united-states-code/title-15/section-1705-information-required-in-statement-of-record--3f80671e71.md
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Passage SHA-256: e87de2070b92e7e05404d8fb2719f4b89bb29d19cb345318cb5751a3ba55740d

Source location: Title 15, Chapter 42, § 1705; chapter-042-interstate-land-sales.md

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The statement of record shall contain the information and be accompanied by the documents specified hereinafter in this section— (1) the name and address of each person having an interest in the lots in the subdivision to be covered by the statement of record and the extent of such interest; (2) a legal description of, and a statement of the total area included in, the subdivision and a statement of the topography thereof, together with a map showing the division proposed and the dimensions of the lots to be covered by the statement of record and their relation to existing streets and roads; (3) a statement of the condition of the title to the land comprising the subdivision, including all encumbrances and deed restrictions and covenants applicable thereto; (4) a statement of the general terms and conditions, including the range of selling prices or rents at which it is proposed to dispose of the lots in the subdivision; (5) a statement of the present condition of access to the subdivision, the existence of any unusual conditions relating to noise or safety which affect the subdivision and are known to the developer, the availability of sewage disposal facilities and other public utilities (including water, electricity, gas, and telephone facilities) in the subdivision, the proximity in miles of the subdivision to nearby municipalities, and the nature of any improvements to be installed by the developer and his estimated schedule for completion; (6) in the case of any subdivision or portion thereof against which there exists a blanket encumbrance, a statement of the consequences for an individual purchaser of a failure, by the person or persons bound, to fulfill obligations under the instrument or instruments creating such encumbrance and the steps, if any, taken to protect the purchaser in such eventuality; (7) (A) copy of its articles of incorporation, with all amendments thereto, if the developer is a corporation; (B) copies of all instruments by which the trust is created or declared, if the developer is a trust; (C) copies of its articles of partnership or association and all other papers pertaining to its organization, if the developer is a partnership, unincorporated association, joint stock company, or any other form of organization; and (D) if the purported holder of legal title is a person other than developer, copies of the above documents for such person; (8) copies of the deed or other instrument establishing title to the subdivision in the developer or other person and copies of any instrument creating a lien or encumbrance upon the title of developer or other person or copies of the opinion or opinions of counsel in respect to the title to the subdivision in the developer or other person or copies of the title insurance policy guaranteeing such title; (9) copies of all forms of conveyance to be used in selling or leasing lots to purchasers; (10) copies of instruments creating easements or other restrictions; (11) such certified and uncertified financial statements of the developer as the Director may require; and (12) such other information and such other documents and certifications as the Director may require as being reasonably necessary or appropriate for the protection of purchasers.

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

5 U.S.C. § 552a — Records maintained on individuals

**(a) Definitions.—** For purposes of this section— (1) the term “agency” means agency as defined in section 552(e) 11 See References in Text note below. of this title; (2) the term “individual” means a citizen of the United States or an alien lawfully admitted for permanent residence; (3) the term “maintain” includes maintain, collect, use, or disseminate; (4) the term “record” means any item, collection, or grouping of information about an individual that is maintained by an agency, including, but not limited to, his education, financial transactions, medical history, and criminal or employment history and that contains his name, or the identifying number, symbol, or other identifying particular assigned to the individual, such as a finger or voice print or a photograph; (5) the term “system of records” means a group of any records under the control of any agency from which information is retrieved by the name of the individual or by some identifying number, symbol, or other identifying particular assigned to the individual; (6) the term “statistical record” means a record in a system of records maintained for statistical research or reporting purposes only and not used in whole or in part in making any determination about an identifiable individual, except as provided by [section 8 of title 13](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title13-section8&num=0&edition=prelim); (7) the term “routine use” means, with respect to the disclosure of a record, the use of such record for a purpose which is compatible with the purpose for which it was collected; (8) the term “matching program”— (A) means any computerized comparison of— (i) two or more automated systems of records or a system of records with non-Federal records for the purpose

Source: Supplied U.S. Code snapshot — release unconfirmed · 5 U.S.C. § 552a

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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

Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1701

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

15 U.S.C. § 1707 — Property report

**(a) Contents of report** A property report relating to the lots in a subdivision shall contain such of the information contained in the statement of record, and any amendments thereto, as the Director may deem necessary, but need not include the documents referred to in paragraphs (7) to (11), inclusive, of [section 1705 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1705&num=0&edition=prelim). A property report shall also contain such other information as the Director may by rules or regulations require as being necessary or appropriate in the public interest or for the protection of purchasers. **(b) Promotional use** The property report shall not be used for any promotional purposes before the statement of record becomes effective and then only if it is used in its entirety. No person may advertise or represent that the Director approves or recommends the subdivision or the sale or lease of lots therein. No portion of the property report shall be underscored, italicized, or printed in larger or bolder type than the balance of the statement unless the Director requires or permits it.

Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1707

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

15 U.S.C. § 1705 — Information required in statement of

Page 1673 TITLE 15—COMMERCE AND TRADE § 1705 EFFECTIVE DATE Section effective upon the expiration of two hundred and seventy days after Aug. 1, 1968, see section 1423 of Pub. L. 90–448, set out as a note under section 1701 of this title. § 1704. Registration of subdivisions (a) Filing of statement of record A subdivision may be registered by filing with the Director a statement of record, meeting the requirements of this chapter and such rules and regulations as may be prescribed by the Director in furtherance of the provisions of this chapter. A statement of record shall be deemed effective only as to the lots specified therein. (b) Payment of fees; use by Director At the time of filing a statement of record, or any amendment thereto, the developer shall pay to the Director a fee, not in excess of $1,000, in accordance with a schedule to be fixed by the regulations of the Director, which fees may be used by the Director to cover all or part of the cost of rendering services under this chapter, and such expenses as are paid from such fees shall be considered nonadministrative. (c) Filing deemed to have taken place upon re- ceipt of statement of record accompanied by fee The filing with the Director of a statement of record, or of an amendment thereto, shall be deemed to have taken place upon the receipt thereof, accompanied by payment of the fee re- quired by subsection (b). (d) Availability of information to public The information contained in or filed with any statement of record shall be made available to the public under such regulations as the Direc- tor may prescribe and copies thereof shall be furnished to every applicant at such reasonable charge as the Director may prescribe. (Pub. L. 90–448, title XIV, § 1405, Aug. 1, 1968,

Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 1705

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