In two recent cases, sponsors in New York State, the state that has the most complex regulatory scheme for the sale of condominiums in the United States, have been found to have failed to comply with the less rigorous disclosure mandated by the Interstate Land Sales Act (“ILSA”).
Applicability of the Interstate Land Sales Act in New York
In two recent cases, sponsors in New York State, the state that has the most complex regulatory scheme for the sale of condominiums in the United States, have been found to have failed to comply with the less rigorous disclosure mandated by the Interstate Land Sales Act ("ILSA").
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