Public Law 113-167. To amend the Interstate Land Sales Full Disclosure Act to clarify how the Act applies to condominiums.Sept
267 words·~1 min read·
/plaw/113/public/167A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An Act To amend the Interstate Land Sales Full Disclosure Act to clarify how the Act applies to condominiums.Sept. 26, 2014[[H.R. 2600](/us/bill/113/hr/2600)] * Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* ## SECTION 1 EXEMPTION FOR RESIDENTIAL CONDOMINIUM UNITS ###
(a)Exemption Section 1403 of the Interstate Land Sales Full Disclosure Act ([15 U.S.C. 1702](/us/usc/t15/s1702)) is amended— ####
(1)in subsection (b)— #####
(A)in paragraph (7)(C), by striking “or” at the end; #####
(B)in paragraph (8)(G), by striking the period at the end and inserting “; or”; and #####
(C)by adding at the end the following: > > #### “(9) > > the sale or lease of a condominium unit that is not exempt under subsection (a).” > ; and ####
(2)by adding at the end the following: > > ### “(d) > > Definition. > > For purposes of subsection (b), the term ‘**condominium unit**’ means a unit of residential or commercial property to be designated for separate ownership pursuant to a condominium plan or declaration provided that upon conveyance— > > > #### “(1) > > the owner of such unit will have sole ownership of the unit and an undivided interest in the common elements appurtenant to the unit; and > > > #### “(2) > > the unit will be an improved lot.” > . ## SEC. 2 EFFECTIVE DATE [15 USC 1702 note](/us/usc/t15/s1702). The amendments made by this Act shall take effect 180 days after the date of the enactment of this Act. Approved September 26, 2014.
Connections11 cite this · traces to 1
Cited by 11 sections · top 7
Traces to 1 document
U.S. Code
Citation graph
cites case law
Public Law 113-167
To amend the Interstate Land Sales Full Disclosure Act to clarify how the Act applies to condominiums.Sept
Fed. Reg.×7
U.S.C.×4
Cites 1Cited by 11 across 2 sources