15 U.S.C. § 1705 : US Code - Section 1705: Information required in statement of record
Search 15 U.S.C. § 1705 : US Code - Section 1705: Information required in statement of record
The statement of record shall contain the information and be
accompanied by the documents specified hereinafter in this section -
(1) the name and address of each person having an interest in
the lots in the subdivision to be covered by the statement of
record and the extent of such interest;
(2) a legal description of, and a statement of the total area
included in, the subdivision and a statement of the topography
thereof, together with a map showing the division proposed and
the dimensions of the lots to be covered by the statement of
record and their relation to existing streets and roads;
(3) a statement of the condition of the title to the land
comprising the subdivision, including all encumbrances and deed
restrictions and covenants applicable thereto;
(4) a statement of the general terms and conditions, including
the range of selling prices or rents at which it is proposed to
dispose of the lots in the subdivision;
(5) a statement of the present condition of access to the
subdivision, the existence of any unusual conditions relating to
noise or safety which affect the subdivision and are known to the
developer, the availability of sewage disposal facilities and
other public utilities (including water, electricity, gas, and
telephone facilities) in the subdivision, the proximity in miles
of the subdivision to nearby municipalities, and the nature of
any improvements to be installed by the developer and his
estimated schedule for completion;
(6) in the case of any subdivision or portion thereof against
which there exists a blanket encumbrance, a statement of the
consequences for an individual purchaser of a failure, by the
person or persons bound, to fulfill obligations under the
instrument or instruments creating such encumbrance and the
steps, if any, taken to protect the purchaser in such
eventuality;
(7)(A) copy of its articles of incorporation, with all
amendments thereto, if the developer is a corporation; (B) copies
of all instruments by which the trust is created or declared, if
the developer is a trust; (C) copies of its articles of
partnership or association and all other papers pertaining to its
organization, if the developer is a partnership, unincorporated
association, joint stock company, or any other form of
organization; and (D) if the purported holder of legal title is a
person other than developer, copies of the above documents for
such person;
(8) copies of the deed or other instrument establishing title
to the subdivision in the developer or other person and copies of
any instrument creating a lien or encumbrance upon the title of
developer or other person or copies of the opinion or opinions of
counsel in respect to the title to the subdivision in the
developer or other person or copies of the title insurance policy
guaranteeing such title;
(9) copies of all forms of conveyance to be used in selling or
leasing lots to purchasers;
(10) copies of instruments creating easements or other
restrictions;
(11) such certified and uncertified financial statements of the
developer as the Secretary may require; and
(12) such other information and such other documents and
certifications as the Secretary may require as being reasonably
necessary or appropriate for the protection of purchasers.
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