The Interstate Land Sales Full Disclosure Act (ILSA) protects consumers from fraud and abuse in the sale or lease of land across state lines by requiring developers to register subdivisions of 100 or more non-exempt lots with the Department of Housing and Urban Development (HUD) and provide prospective buyers with a property report.
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).
