12 C.F.R. § 1010.8

Current through October 31, 2024
Section 1010.8 - Scattered site subdivisions
(a) The sale of lots in a subdivision consisting of noncontiguous parts is exempt from the registration requirements of the Act if:
(1) Each noncontiguous part of the subdivision contains twenty or fewer lots; and
(2) Each purchaser or purchaser's spouse makes a personal, on-the-lot inspection of the lot purchased prior to signing a contract.
(b) For purposes of this exemption, interruptions such as roads, parks, small bodies of water or recreational facilities do not serve to break the contiguity of parts of a subdivision.
(c) The sale must also comply with the anti-fraud provisions of § 1010.4(b) and (c) of this part.

12 C.F.R. §1010.8