Land Use & Zoning

The Interstate Land Sales Full Disclosure Act (ILSA) applies to developers who sell or lease lots in subdivisions of:

A5 or more lots across state lines
B25 or more lots sold through interstate commerce, with certain exemptions✓ Correct
C100 or more lots in a single state
DAny number of lots in a flood zone

Explanation

ILSA (now administered by the CFPB) applies to developers offering 25 or more lots through interstate commerce. It requires registration and disclosure of a Property Report to buyers before signing a contract.

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