Carmel & Carmel News Updates



New York Guidelines For Advertising Out-Of-State Properties

2015-09-01

On August 5, 2015 the Real Estate Finance Bureau of the New York Department of Law (the “Department”) presented a Memorandum pursuant to the State Administrative Procedure Act providing Guidelines for Advertising Out-of-State Real Estate Offerings.  While purportedly applying primarily to Internet Web Sites and Apps, the Guidelines provide ...


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Enforcement of the Interstate Land Sales Full Disclosure Act (“ILSFDA”) Shifts to the Bureau of Consumer Financial Protection

2011-08-10

On July 21, 2011, enforcement of the Interstate Land Sales Full Disclosure Act (“ILSFDA”) shifted from the Office of Interstate Land Sales Registration (“OILSR”), previously a sub-agency at the Department of Housing and Urban Development (“HUD”), to the new Bureau of Consumer Financial Protection (“CFPB”) ...


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Second Circuit Appellate Court Strikes Down Bodansky, Making it Unwise For Developers to Combine ILSA Exemptions

2011-03-17

On March 15, 2011, the United States Court of Appeals for the Second Circuit (the “Second Circuit Court”) confirmed the advice we have consistently provided to our condominium developer clients:  it is not prudent for developers selling pre-construction units in condominiums with more than 99 units to rely on a ...


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