Sec. 1402. definitions
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/statute-compilations/comps-10381/sec-1402A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## Sec. 1402 definitions **[**[15 U.S.C. 1701](/us/usc/t15/s1701)**]** For the purposes of this title, the term— ####
(1)“**Director**” means the Director of the Bureau of Consumer Financial Protection; ####
(2)“**person**” means an individual, or an unincorporated organization, partnership, association, corporation, trust, or estate; ####
(3)“**subdivision**” means any land which is located in any State or in a foreign country and is divided or is proposed to be divided into lots, whether contiguous or not, for the purpose of sale or lease as part of a common promotional plan; ####
(4)“**common promotional plan**” means a plan, undertaken by a single developer or a group of developers acting in concert, to offer lots for sale or lease; where such land is offered for sale by such a developer or group of developers acting in concert, and such land is contiguous or is known, designated, or advertised as a common unit or by a common name, such land shall be presumed, without regard to the number of lots covered by each individual offering, as being offered for sale or lease as part of a common promotional plan; ####
(5)“**developer**” means any person who, directly or indirectly, sells or leases, or offers to sell or lease, or advertises for sale or lease any lots in a subdivision; ####
(6)“**agent**” means any person who represents, or acts for or on behalf of, a developer in selling or leasing, or offering to sell or lease, any lot or lots in a subdivision; but shall not include an attorney at law whose representation or another person consists solely of rendering legal services; ####
(7)“**blanket encumbrance**” means a trust deed, mortgage, judgment, or any other lien or encumbrance, including an option or contract to sell or a trust agreement, affecting a subdivision or affecting more than one lot offered within a subdivision, except that such term shall not include any lien or other encumbrance arising as the result of the imposition of any tax assessment by any public authority; ####
(8)“**interstate commerce**” means trade or commerce among the several states or between any foreign country and any state; ####
(9)“**State**” includes the several States, the District of Columbia, the Commonwealth of Puerto Rico, and the territories and possessions of the United States; ####
(10)“**purchaser**” means an actual or prospective purchaser or lessee of any lot in a subdivision; ####
(11)“**offer**” includes any inducement, solicitation, or attempt to encourage a person to acquire a lot in a subdivision; and ####
(12)“**Bureau**” means the Bureau of Consumer Financial Protection.
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U.S. Code