HUD Interstate Land Sales Act
The U.S. Department of Housing and Urban Development (HUD) states that the Interstate Land Sales Full Disclosure Act was enacted in 1968 to protect consumers from fraudulent activity related to the sale or lease of land.
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Revocation of the Sale
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According to HUD, the purchaser has the option to revoke the purchase within 7 days. This time may be extended by applicable state laws.
State Law
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According to HUD, the act states that states may enact similar laws if they are essentially equal. These laws may only be enacted if their requirements are at least as strict as the original act.
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Civil Liabilities
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The act, according to HUD, specifies that the purchaser may bring suit against a seller who is in violation of the act. In this case, the court may order damages or other relief as the court deems equitable.
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