U.S. Code » Title 15 » Chapter CHAPTER 42— INTERSTATE LAND SALES

15 U.S.C. § 1707

Property report

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(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. 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.

(Pub. L. 90–448, title XIV, § 1408, Aug. 1, 1968, 82 Stat. 594; Pub. L. 111–203, title X, § 1098A(1), July 21, 2010, 124 Stat. 2105.)Editorial NotesAmendments

2010—Pub. L. 111–203 substituted “Director” for “Secretary” wherever appearing.

Statutory Notes and Related SubsidiariesEffective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

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.

Notes of Decisions
Cited in 26 cases, 1975–2015 · leading case: Flint Ridge Dev. Co. v. Scenic Rivers Assn. of Okla., 426 U.S. 776 (1976).
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Flint Ridge Dev. Co. v. Scenic Rivers Assn. of Okla., 426 U.S. 776 (1976). · cites it 2× “§§ 1408 (b), 1417 of the Disclosure Act, 15 U. S. C. §§ 1707 (b), 1716. 4 Petitioner Flint Ridge Development Co.”
Robert Bomba & Annamarie P. Bomba v. W. L. Belvidere, Inc., a Gen. Partner Doing Bus. as Candlewick Lakes Assocs., a P'ship, 579 F.2d 1067 (7th Cir. 1978). “§ 1706 and without having provided plaintiffs with a printed property report as required by 15 U.S.C. § 1707 . The defendant answered, inter alia, that plaintiffs’ action was barred by the statute of limitations specified in 15 U.”
Nahigian v. Juno-loudoun, LLC, 677 F.3d 579 (4th Cir. 2012). · cites it 2× “See 15 U.S.C. § 1707 (a) (limiting requirements for what should be included in the property report); 15 U.”
Leo A. Lukenas & Geraldine R. Lukenas, Etc., on Behalf of Themselves & All Others Similarly Situated v. Bryce's Mountain Resort, Inc., 538 F.2d 594 (4th Cir. 1976). “15 U.S.C. § 1707 . The findings of the District Court are set forth in Lukenas v.”
Harvey v. Lake Buena Vista Resort, LLC, 568 F. Supp. 2d 1354 (M.D. Fla. 2008). “, 15 U.S.C. § 1707 ; “Supplemental Information to Part 1710: Guidelines for Exemptions Available Under *1364 the Interstate Land Sales Full Disclosure Act,” available at http://www.”
James M. Law & Susan C. Law, His Wife v. Royal Palm Beach Colony, Inc., 578 F.2d 98 (5th Cir. 1978). “15 U.S.C.A. § 1707 (a); see 24 C.F.R. §§ 1710.”
Las Campanas Ltd. P'ship v. Pribble, 943 P.2d 554 (N.M. Ct. App. 1997). · cites it 2× “In the present case, the trial court found that Pribble received the property report before he signed any contract or purchase agreement, and that Las Campanas did not act to conceal the property report or engage in any misleading practice, device, or representation in its…”
Stein v. Paradigm Mirsol, LLC, 551 F. Supp. 2d 1323 (M.D. Fla. 2008). “Paradigm agrees that it did not provide the Steins with a Property Report that met the requirements of 15 U.S.C. § 1707 , but asserts that the sale of the condominium was exempt from the provisions of the ILSFDA.”
Husted v. Amrep Corp., 429 F. Supp. 298 (S.D.N.Y. 1977). “” 15 U.S.C. § 1707 (a). The statement of record is available for public viewing under regulations prescribed by the Secretary; a property report must be furnished every prospective purchaser before she signs any land sales contract.”
Pierce v. Apple Valley, Inc., 597 F. Supp. 1480 (S.D. Ohio 1984). “§ 1704 and property reports under 15 U.S.C. § 1707 is unpersuasive. The Secretary will have by implication whatever authority is necessary to implement the purposes of the Act.”
Bartley v. Merrifield Town Ctr. Ltd. P'ship, 580 F. Supp. 2d 495 (E.D. Va. 2008). “15 U.S.C. § 1707 . In addition to the general disclosures contained in the property report, ILSFDA requires developers to provide buyers with a specific description of the lot being purchased and to inform them of the consequences and remedies of default by either the buyer or…”
Christopher Greco v. Ginn Dev. Co., LLC, 635 F. App'x 628 (11th Cir. 2015). “The district court (1) dismissed Plaintiffs ILSA claim under 15 U.S.C. § 1707 as to both Lubert-Adler and Ginn, with prejudice; (2) dismissed the ILSA claim under 15 U.”
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