Carmel & Carmel News Updates



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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More Important than Ever to Retain Experienced ILSA Counsel - Two More ILSA Decisions Strike Fear in Condominium Developers

2010-10-01

On the heels of the 111 Fulton decision passed down in August against a 163-unit New York City condominium developer, two additional cases brought under HUD’s Interstate Land Sales Full Disclosure Act (“ILSA” or “ILSFDA”) ruled upon during the past two weeks within the Southern District of New York indicate ...


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