1710.3—General applicability.
Except in the case of an exempt transaction, a developer may not sell or lease lots in a subdivision, making use of any means or instruments of transportation or communication in interstate commerce, or of the mails, unless a Statement of Record is in effect in accordance with the provisions of this part. In non-exempt transactions, the developer must give each purchaser a printed Property Report, meeting the requirements of this part, in advance of the purchaser's signing of any contract or agreement for sale or lease.
(Approved by the Office of Management and Budget under control number 2502-0243)
[45 FR 40479, June 13, 1980, as amended at 49 FR 31368, Aug. 6, 1984]