The Interstate Land Sales Full Disclosure Act (ILSA) applies to sales or leases of one hundred or more lots of unimproved land as part of a common promotional plan in interstate commerce. The Act:
A) requires a developer to file with HUD a detailed "statement of record" containing specified information about the subdivision and the developer before offering the lots for sale or lease.
B) pro-vides that a purchaser or lessee may revoke any contract or agreement for sale or lease at her option within seven days of signing the contract and that the contract must clearly pro-vide this right.
C) is administered by the Consumer Financial Protection Bureau.
D) All of these statements are true.
Correct Answer:
Verified
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