Interstate Land Sales Full Disclosure Act: CFPB Enforcement Activity, Condo Exemption, Litigation Updates
Ensuring ILSA Compliance, Avoiding Contract Rescission, Fines and Penalties
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will provide real estate counsel with a review of the latest developments in the enforcement of the Interstate Land Sales Full Disclosure Act (ILSA). The panel will discuss how the Consumer Financial Protection Bureau (CFPB) and courts are addressing ILSA, the ILSA amendment providing a partial exemption for the sale of condo units, and best practices to ensure compliance.
- ILSA enforcement activity by the CFPB
- 2015 consent order with Hawk’s Bluff, Tenn.
- 2013 consent order with 3D Resorts-Bluegrass L.L.C.
- Registration statement
- Legal issues with registration statements
- Exemptions and drafting pointers
- 2015 ILSA amendment partially exempting condo developments
- Recent private litigation developments
The panel will review these and other key issues:
- What has the CFPB’s involvement in ILSA cases been so far, and how does the CFPB identify targets for investigation?
- What issues have not been resolved or remain ambiguous in the recent condo exemption amendment?
- How are courts addressing ILSA cases?
- What are the compliance options, alternatives, strategies and pitfalls for developers under ILSA?
Mark D. Hillier
Mr. Hillier is experienced in the areas of recreation and hospitality law, corporate, real estate, timeshare,... | Read More
Mr. Hillier is experienced in the areas of recreation and hospitality law, corporate, real estate, timeshare, infrastructure, securities, and taxation and has been active in events of the Urban Land Institute Southeastern/Caribbean Council and the national ULI. He also has experience in structuring private residence and fractional membership programs, infrastructure cost recovery programs, conservation easements, and resort membership programs in the U.S., Canada, the Caribbean and Mexico.Close
Joseph E. Lubinski
Mr. Lubinski's multifaceted practice includes experience with virtually all aspects of real estate transactions,... | Read More
Mr. Lubinski's multifaceted practice includes experience with virtually all aspects of real estate transactions, including project financing, acquisitions, development, dispositions, and loan workouts, representation of special servicers, and foreclosures. He frequently writes and speaks on topics within his expertise including real estate finance and distressed real estate.Close