Interstate Land Sales Full Disclosure Act: Registration Requirements and Exemptions, Enforcement
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE webinar will provide real estate counsel with a review of the statutory framework and the latest developments relating to the Interstate Land Sales Full Disclosure Act (ILSFDA). The panel will discuss its amendments, including a partial exemption for the sale of condo units, how the Consumer Financial Protection Bureau (CFPB) and courts are addressing ILSFDA, and best practices to ensure compliance.
Outline
- ILSFDA statutory and regulatory framework
- 2015 amendment partially exempting condo developments
- The CFPB 2016 electronic filing initiative
- Legal issues with registration statements
- Exemptions and drafting pointers
- Enforcement activity
- Recent private litigation developments
Benefits
The panel will review these and other key issues:
- When is registration required under ILSFDA, and what are the continuing compliance requirements?
- How does the CFPB identify targets for investigation?
- What issues have not been resolved or remain ambiguous in the condo exemption amendment?
- How are courts addressing ILSFDA cases?
- What are the compliance options, alternatives, strategies, and pitfalls for developers under ILSFDA?
Faculty
Dana Goldman
Of Counsel
Shutts & Bowen
Ms. Goldman represents national and regional homebuilders with the development of their condominiums and planned... | Read More
Ms. Goldman represents national and regional homebuilders with the development of their condominiums and planned development communities, including covenant drafting, special disclosures, Division of Florida Condominiums, Timeshares and Mobile Homes (Condominium) and Consumer Finance Protection Bureau (Interstate Land Sales Full Disclosure Act) filings and secondary mortgage market financing. She is currently serving a two-year term as Commissioner for the City of Sunny Isles Beach, Florida.
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Judyann M. Lee
Partner
McMillan Metro
Ms. Lee’s real estate practice focuses primarily on issues surrounding common interest projects, including... | Read More
Ms. Lee’s real estate practice focuses primarily on issues surrounding common interest projects, including homeowners associations, commercial, residential and mixed-use condominiums, cooperatives, and timeshare resorts. She frequently represents associations after their transition to homeowner management. Ms. Lee leverages that practical operational knowledge to help clients in the formation of these associations.
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Andrew J. Perel
Partner
Troutman Pepper
Mr. Perel is an environmental partner at Troutman Pepper with more than 30 years of vast experience representing... | Read More
Mr. Perel is an environmental partner at Troutman Pepper with more than 30 years of vast experience representing clients on all aspects of environmental law, including real estate, environmental regulatory and risk management, and assessment matters. Mr. Perel has specific experience advising on development and redevelopment projects, risk management and insurance, remediation of contaminated properties, environmental compliance and due diligence for real estate financing and corporate transactions, and litigating complex environmental and environmental insurance coverage claims and disputes. Mr. Perel’s clients include financial institutions, real estate developers, redevelopers, REITs, and major players in the insurance, corporate, and hotel and hospitality industries. For his financial institution clients, Mr. Perel counsels on real estate acquisitions, development, and financings, as well as in commercial mortgage backed securities transactions. Mr. Perel currently serves as Vice-Chair of Programs for the Environmental Disclosure Committee of the American Bar Association’s Section of Environment, Energy and Resources.
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