Form HUD 762 HUD 762 Request For Voluntary Supension of Effectiveness of Stat

UNITED STATES OF AMERICA

before the

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

OFFICE OF CONSUMER AND REGULATORY AFFAIRS

Interstate Land Sales Registration/Respa Division

OMB Approval #2502-0243

Exp. xx/xx/xxxx

REQUEST FOR VOLUNTARY SUSPENSION OF

EFFECTIVENESS OF STATEMENT OF RECORD

In the matter of:__________________________________________ ILS NUMBER: ______________

Developer:

On this _____day of __________, 200___, the Developer of the above captioned subdivision hereby requests the suspension of the effectiveness of its Statement of Record filed pursuant to the Interstate Land Sales Full Disclosure Act, and all amendments and/or consolidations filed pursuant thereto. The reason for this request is _________________.

It is agreed that no sales or leases or offers to sell or lease lots in the above captioned subdivision, including re-sales or leases of lots reacquired, will be made unless such transactions are statutorily exempt from the registration requirements of the Act or until proper amendments have been filed and made effective by the Office of RESPA/Interstate Land Sales Registration. It is agreed that until this Request has been executed by the Secretary it shall not operate as a suspension of the subject Statement of Record but that upon such execution it shall so operate as of the date this Request is signed by the developer.

Developer_________________________________

By_______________________________________

Printed name ______________________________

Title______________________________________ (Corporate Seal)

ATTEST:

Sworn and subscribed before me this _____day of _____________________, 200__.

Notary Public_____________________________

My Commission Expires_____________________

Instruction to Developer: Attach, where applicable, a certified copy of the Board of Directors Resolution and/or Power of Attorney authorizing execution of this Request. The effectiveness of the Statement of Record of the above-captioned subdivision is hereby voluntarily suspended as of the date last above subscribed until a reactivating amendment is filed and made effective by the Office of RESPA/Interstate Land Sales Registration.

By_____________________________________ Date ______________________

Authorized Designee of the Secretary

The Department of Housing and Urban Development (HUD) is authorized to collect this information by 24 CFR 1710.22 and The Interstate Land Sales Full Disclosure Act, 15 U.S.C. 1701, et seq., requires developers to register subdivisions or condominiums of 100 or more non-exempt lots or units 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. The property report contains the information purchasers need to make informed land or condominium unit purchases. Information gathered from Financial Statements, Restrictive Covenants are required to be made available to prospective purchasers. Most of information is public information.  Information about complainants, open investigations are not public.

Public reporting burden for this collection of information is estimated at .08 hours including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information.

This agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number.