[Code of Federal Regulations]
[Title 24, Volume 5]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR1710.216]

[Page 56-57]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
 CHAPTER X--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING 
 COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (INTERSTATE 
                    LAND SALES REGISTRATION PROGRAM)
 
PART 1710_LAND REGISTRATION--Table of Contents
 
                    Subpart B_Reporting Requirements
 
Sec.  1710.216  Additional information.

    (a) Property Owners' Association. (1) If the association has been 
formed as a legal entity, submit a copy of the articles of association, 
bylaws or similar documents, and a copy of the charter or certificate of 
incorporation.
    (2) If the developer exercises any control over the association, 
state whether any contracts have been executed between the association 
and the developer or any affiliate or principal of the developer. If 
there have been, briefly summarize the terms of the contracts, their 
purpose, their duration and the

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method and rate of payment required by the contract. State whether the 
association may modify or terminate the contracts after the owners 
assume control of the association.
    (3) State whether there is any agreement which would require the 
association to reimburse the developer, its affiliates or successors for 
any attorney's fees or costs arising from an action brought against them 
by the association or individual property owners regardless of the 
outcome of the action.
    (4) If the answer to paragraph (a)(2) or (a)(3) of this section is 
in the affirmative, disclosure may be required in Sec.  1710.116(a) at 
the discretion of the Secretary.
    (5) Submit a copy of any membership agreement or similar document.
    (b) Price range, type of sales and marketing. (1) State the price 
range of lots in the subdivision.
    (2) State the type of sales to be made, i.e., contract for deed, 
cash, deed with security instrument, etc.
    (3) Describe the methods of advertising and marketing to be used for 
the subdivision. The description should include, but need not be limited 
to, information on such matters as to:
    (i) Whether the developer will employ his own sales force or will 
contract with an outside group;
    (ii) Whether wide area telephone solicitation will be employed;
    (iii) Whether presentations will be made away from the immediate 
vicinity of the subdivision and/or if prospective purchasers will be 
furnished transportation from distant cities to the subdivision;
    (iv) Whether mass mailing techniques will be used and gifts offered 
to those who respond.
    (4) Submit a copy of any advertising or promotional material that 
is, or has been, used for the subdivision that:
    (i) Mentions or refers to recreational facilities which are not 
disclosed in Sec.  1710.114, or;
    (ii) Promotes the sale of lots based on the investment potential or 
expected profits, or;
    (iii) Contains information which is in conflict with that disclosed 
in this Statement of Record.

Amendments to reflect changes in advertising or promotional material 
need be filed only when there is a material change related to one of the 
above factors. Depending upon the content of the material submitted, the 
Secretary may require additional warnings in the Property Report 
portion.
    (c) Violations and litigation. (1) Submit a copy of the 
complaint(s), the answer(s) and the decision(s) for any litigation 
listed in Sec.  1710.116(c).
    (2) If it is indicated in Sec.  1710.116(c) that the developer or 
any of the parties involved in the subdivision are, or have been, the 
subject of any bankruptcy proceedings, furnish a copy of the schedules 
of liabilities and assets (or a recap of those schedules); the petition 
number; the date of the filing of the petition; names and addresses of 
the petitioners, trustee and counsel; the name and location of the court 
where the proceedings took place and the status or disposition of the 
petition.

Explain, briefly, the cause of the action.
    (3) Furnish a copy of any orders issued in connection with any 
violations listed in Sec.  1710.116(c).
    (d) Resale or exchange program. (1) If it is stated in Sec.  
1710.116(d)(3) that there is an exchange program which provides 
sufficient lots to satisfy all requests for exchange, describe the 
method used to determine the number of lots required; state whether 
these lots have been reserved or set aside; whether additional lots will 
be provided if the lots available for exchange are exhausted and the 
source of any additional lots.
    (e) Unusual situations--(1) Foreign subdivisions. If the subdivision 
is located outside the several States, the District of Columbia, the 
Commonwealth of Puerto Rico or the territories or possession of the 
United States, the Statement of Record shall be submitted in the English 
language and all supporting documents, including copies of any laws 
which restrict the ownership of land by aliens, shall be submitted in 
their original language and shall be accompanied by a translation into 
English.