Interstate Land Sales Full Disclosure Act (ILSA)

We are shifting gears now. We’ve finished the big Civil Rights laws. Now, we look at two specific areas of law that protect consumers’ wallets:Buying land (so you don't buy a swamp).Renting a home (so the landlord doesn't steal your deposit).We’ll start with the "The Anti-Swampland Law”. In the mid-20th century, unscrupulous developers were selling Florida "vacation lots" to people in New York and Ohio. The buyers would sign a contract, mail a check, and drive down to Florida only to find their "paradise" was literally underwater in the Everglades.To stop this, Congress passed ILSA.1. Who Must Register?The 100-Lot Rule: Developers who sell or lease subdivisions of 100 or more lots across state lines must register with the Consumer Financial Protection Bureau (CFPB).