Interstate Land Sales Full Disclosure Act: Latest Developments
Ensuring Compliance with ILSA's Registration Requirements in the Absence of Clear Guidelines
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Wednesday, January 25, 2012
Recorded event now available
This CLE webinar will provide real estate developers' counsel with a review of enforcement developments in the Interstate Land Sales Full Disclosure Act. The panel will discuss how courts are interpreting ILSA and outline best practices to ensure compliance in the new enforcement environment.
Description
Enforcement of the Interstate Land Sales Full Disclosure Act (ILSA) moved from HUD to the new Consumer Financial Protection Bureau (CFPB) in July 2011. Until the CFPB creates regulations or guidelines, there are several open questions and ILSA compliance challenges for developers and their counsel.
Current areas of confusion include the applicability of ILSA to certain developments and exemption from ILSA registration requirements for a number of different development scenarios.
Suits involving ILSA have also exploded. Courts have inconsistently interpreted the Act, and developers are constantly navigating the potential legal landmines within ILSA. Counsel to developers must ensure properties are properly registered under ILSA or are exempt from the Act.
Listen as our authoritative panel of real estate attorneys reviews the current ILSA landscape, the latest case law developments, and approaches for real estate counsel to ensure ILSA compliance under the new enforcement regime.
Outline
- History and purpose of ILSA
- Recent ILSA developments
- Shift of ILSA enforcement from HUD to CFPB
- Current litigation trends
- Recent case law interpreting ILSA and its exemptions
- California perspective
- Best practices for counsel
- Does ILSA apply to the development project?
- Do any ILSA exemptions apply?
- Outlook for the future
Benefits
The panel will review these and other key questions:
- What are some best practices for ensuring ILSA compliance during the transition of ILSA oversight from HUD to the CFPB?
- How have courts interpreted ILSA's applicability and exemptions in the most recent cases?
- What factors should developers take into account when negotiating sales contract provisions regarding ILSA's requirements for disclosure of developer obligations and buyer remedies?
Faculty
Brian C. Cheney,
Partner
Snell & Wilmer, Salt Lake City
His practice is concentrated in real estate and commercial finance law, focusing on condominium, hotel, condominium hotel, resort, mixed use, and commercial real estate development and acquisitions; interstate land sales registration and compliance; commercial/retail leasing; real and personal property secured financing transactions; and general commercial and corporate transactions.
M. Theresa ("Tess") Tolentino Meehan,
Partner
Stoel Rives, Sacramento, Calif.
Her practice includes a full range of complex business litigation, including product liability, unfair business practices, misappropriation of trade secrets, real estate and construction matters. She is also experienced in real estate development litigation involving the Interstate Land Sales Full Disclosure Act, state and federal securities statutes, and the California Subdivision Map Act.
Frank J. Carmel,
Managing Shareholder
Carmel & Carmel, Washington, D.C.
A significant portion of his practice involves land sales registration issues required of real estate developers to market and sell their property, ranging from representation before federal agencies such as the Consumer Financial Protection Bureau (CFPB), the Department of Housing and Urban Development (HUD), the Securities and Exchange Commission (SEC) and before state regulatory agencies.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
Pre-approved for participatory or non-traditional/alternate format credit in: CA, HI*, NY*, WV*.
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Online CLE Audio $297.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, MO, MT, NY, TX*, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, 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. (*Indicates that Strafford needs to process the CLE — see below to purchase this option.)
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plus $9.45 S&H
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Available ten business days after the live event
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Program Materials
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Program Materials
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CLE Credit
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Customer Reviews
This program was very informative re recent ILSA developments. Q&A was also very useful.
Esther Roberts
Case Lombardi & Pettit
I liked the identification of key issues being litigated under the Interstate Land Sales Act.
Keith Parrella
McNair Law Firm, P.A.
This program provided a good refresher on this statute, especially after the housing crash and formation of new CFPB now administering ILSA in place of HUD.
Sandra Nunn
Frost Brown Todd LLC
The presentation was not too long, but included a great deal of information. The speakers kept to their times and provided an opportunity for questions at the end.
Amy E. McShane
Phillips Lytle LLP
Very good current, practical and applicable discussion and information provided.
Matthew Moore
Clawson & Staubes, LLC
Real Estate Law Advisory Board
Partner
Alston & Bird
Partner
Stroock & Stroock & Lavan
Partner
Robinson & Cole
Of Counsel
Jenner & Block
Partner
Bryan Cave
Of Counsel
K&L Gates
Counsel
Kilpatrick Townsend & Stockton
Partner
Jones Day
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