Interstate Land Sales Full Disclosure Requirements

ICR 201105-2502-003

OMB: 2502-0243

Federal Form Document

Forms and Documents
IC Document Collections
IC ID
Document
Title
Status
27074 Modified
ICR Details
2502-0243 201105-2502-003
Historical Active 200807-2502-004
HUD/OH
Interstate Land Sales Full Disclosure Requirements
Extension without change of a currently approved collection   No
Regular
Approved with change 12/02/2011
Retrieve Notice of Action (NOA) 09/30/2011
During this review, the agency increased the number of property reports from 50 to 100. The number 50 dates back to the old "50 lot exemption", but as the exemption is now 100 lots, the number of property reports was increased to 100. This change increases responses and burden hours.
  Inventory as of this Action Requested Previously Approved
12/31/2014 36 Months From Approved 12/31/2011
197,697 0 113,997
43,023 0 34,653
0 0 0

The Interstate Land Sales Full Disclosure Act, 15 U.S.C. 1701, et seq., requires developers to register subdivisions of 100 or more non-exempt lots with HUD. The developer must give each purchaser a property report that meets HUD's requirements before the purchaser signs the sales contract or agreement for sale or lease.

US Code: 15 USC 1707 Name of Law: Commerce and Trade
  
None

Not associated with rulemaking

  76 FR 20365 04/12/2011
76 FR 59714 09/27/2011
No

1
IC Title Form No. Form Name
Interstate Land Sales Full Disclosure Requirements HUD 762 Request For Voluntary Supension of Effectiveness of Statement of Record

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 197,697 113,997 0 0 83,700 0
Annual Time Burden (Hours) 43,023 34,653 0 0 8,370 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
Estimates in property reports have increased from 50 to 100 which results in an increase in responses and burden hours.

$2,149,380
No
No
No
No
No
Uncollected
Anita Hart 2027080502 ext. 2066

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
09/30/2011


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