As we previously reported, a significant amendment to the Interstate Land Sales Full Disclosure Act (ILSA) becomes effective on March 26, 2015. HR2600 adds an exemption from registration for a “condominium unit.” This is a so-called “b” exemption, meaning the anti-fraud rules of ILSA will still apply to condominium unit sales. This alert provides an updated analysis of the amendment. Read more……….
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