Interstate Land Sales Full Disclosure Act: Emerging Legal Threat
Avoiding Contract Rescission, Fines and Penalties Under ILSA
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, February 4, 2010
Recorded event now available
This CLE seminar will explain how buyers are strategically using ILSA to escape purchase contracts. The panel will offer legal strategies for developers to avoid liability under ILSA and protect deals.
Description
Litigation involving the Interstate Land Sales Full Disclosure Act (ILSA) has exploded as the real estate market took a nosedive. Buyers, desperate to get out of purchase contracts, are increasingly asserting ILSA non-compliance by developers as a basis for contract rescission.
Because ILSA contains a number of complex technicalities, courts have inconsistently interpreted the Act. Developers are constantly navigating the potential legal landmines within ILSA. In the current environment, developers must rely on the various ILSA exemptions to protect deals.
Listen as our panel of real estate attorneys examines how buyers are using ILSA to escape purchase contracts and how developers can respond to this strategy. The panelists will suggest legal tactics for developers to avoid liability under ILSA and protect purchase deals.
Outline
- Interstate Land Sales Full Disclosure Act (ILSA)
- Overview of Act
- Exemptions
- Penalties for non-compliance
- Recent ILSA developments
- Current litigation trends
- Recent case law interpreting Act and its exemptions
- Defending against ILSA claims
- Does ILSA apply to the development project?
- Do any ILSA exemptions apply?
- Does the statute of limitations bar a lawsuit?
Benefits
The panel will review these and other key questions:
- How are courts interpreting the Interstate Land Sales Full Disclosure Act (ILSA) in the current economic climate?
- What are the most common exemptions for developers to avoid the registration requirements of ILSA?
- What defenses have been most effective when litigating claims under ILSA?
- What proactive steps should developers take to ensure ILSA compliance on the front end of pre-construction sales?
Faculty
Richard C. Linquanti,
Shareholder
Carlton Fields, St. Petersburg, FL
He practices primarily in law relating to land business, including finance (borrowing and lending sides), business planning and implementation, front-end transaction structuring, partnerships, limited liability companies, and joint ventures, land use, and condominium, mixed-use and master communities.
Adam K. Feldman,
Of Counsel
Brownstein Hyatt Farber Schreck, Denver
He counsels lenders, developers and associations in real estate acquisition, disposition, financing, hospitality, leasing and other matters. His practice focuses primarily on commercial real estate development with specific emphasis on Common Interest Communities. He is proficient in analyzing the applicability and effect of the Interstate Land Sales Full Disclosure Act to development projects.
Rebecca Anderson Fischer,
Member
Sherman & Howard, Denver
Her practice focuses primarily on commercial and mountain resort real estate construction, financing and development, commercial leasing, and common interest community law. She has served on the faculties of a number of continuing legal education programs on resort development and advanced commercial leasing issues.
Ordering
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in AK, AZ, CA, CT*, MO, MT, NY*, TX, VT, WA. Upon request, self-study credit is also available in: CO, FL, GA, ID, KY, LA, ME, ND, NE, NH, NM, NV, OR, UT, WI, WV, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com. (*For CT and NY, Strafford needs to process the CLE — see below to purchase this option.)
MP3 Download (Audio with Slide PDFs) $297.00
Available 24 hours after the live event
Webinar Download (Slide Presentation with Audio) $297.00
Available three business days after the live event
CD (Audio with Slide PDFs) $297.00
plus $9.45 S&H
Available ten business days after the live event
DVD (Slide Presentation with Audio) $297.00
plus $9.45 S&H
Available ten business days after the live event
CLE Processing on Recorded Event $65.00
CLE on Live Event
Continuing Legal Education credit processing is available for an additional $65 per person per state in states where webinars and teleconferences are accredited.
This webinar is eligible for at least 1.5 general CLE credits, depending on state rules.
You may register for CLE credit processing before or after a program (application deadlines vary by state). Exceptions: Pennsylvania attorneys must pre-register for CLE. Maine and Alabama attorneys please call 1-800-926-7926 ext. 10 for special instructions.
CLE credits are not available for DE, IN, KS, OH, and PR or for NY attorneys admitted within the last 2 years.
CLE Processing $65.00
Webinar/Teleconference
Strafford webinars/teleconferences offer several options for participation: online viewing of speaker-controlled PowerPoint presentations with audio via computer speakers or via phone; or audio only via telephone (download speaker handouts prior to the program). Please note that our webinars do not feature videos of the presenters.
Program Materials
Requires Adobe Reader 8 or later. Download Acrobat FREE.
Program Materials
Requires Adobe Reader 8 or later. Download Acrobat FREE.
CLE Credit
Strafford's live seminars qualify for CLE in every state that accredits webinars. They offer you a high quality, cost effective, and convenient CLE option, with no lost travel time or expenses.
Customer Reviews
The information was relevant and well presented. The questions were good, and the speakers responded with clear knowledge.
Sheila Fox Morrison
Davis Wright Tremaine
The presentations provided great insight.
Josh WInslow
Pabian & Russell
All the speakers seemed extremely knowledgeable on the subject matter. Overall a very good seminar.
Stephan R. Silen
American AgCredit
I liked everything about the teleconference - knowledgeable speakers, well presented, timely topic. I was very impressed.
James A. Tramonte
Miller Martin
Content was superb.
Patrick Webb
Webb & Carey
Real Estate Law Advisory Board
Partner
Ballard Spahr Andrews & Ingersoll
Partner
Stroock & Stroock & Lavan
Partner
Robinson & Cole
Of Counsel
Jenner & Block
Partner
Bryan Cave
Partner
K&L Gates
Michelle A. Neumann
Attorney at Law
Jordan Schrader Ramis
Attorney
McGuire Woods
Partner
Howrey