A Property Report is a mandatory document for the sale of subdivisions of 50 lots or more, as required by the Interstate Land Sales Full Disclosure Act (ILSA). This report must be filed with the Office of Interstate Land Sales Registration (OILSR) under the U.S. Department of Housing and Urban Development (HUD).
A remnant parcel is an uneconomic remainder of land left after a larger parcel has been sold or developed. Typically, this piece of land is too small or oddly shaped to be of significant commercial value on its own.
