{"identifier":"/us/usc/t15/s1701","title":15,"num":"\u00a7\u202f1701.","heading":"Definitions","text":"\u00a7\u202f1701.\nDefinitions\nFor the purposes of this chapter, the term\u2014\n(1) \u201cDirector\u201d means the Director of the Bureau of Consumer Financial Protection;\n(2) \u201cperson\u201d means an individual, or an unincorporated organization, partnership, association, corporation, trust, or estate;\n(3) \u201csubdivision\u201d means any land which is located in any State or in a foreign country and is divided or is proposed to be divided into lots, whether contiguous or not, for the purpose of sale or lease as part of a common promotional plan;\n(4) \u201ccommon promotional plan\u201d means a plan, undertaken by a single developer or a group of developers acting in concert, to offer lots for sale or lease; where such land is offered for sale by such a developer or group of developers acting in concert, and such land is contiguous or is known, designated, or advertised as a common unit or by a common name, such land shall be presumed, without regard to the number of lots covered by each individual offering, as being offered for sale or lease as part of a common promotional plan;\n(5) \u201cdeveloper\u201d means any person who, directly or indirectly, sells or leases, or offers to sell or lease, or advertises for sale or lease any lots in a subdivision;\n(6) \u201cagent\u201d means any person who represents, or acts for or on behalf of, a developer in selling or leasing, or offering to sell or lease, any lot or lots in a subdivision; but shall not include an attorney at law whose representation of another person consists solely of rendering legal services;\n(7) \u201cblanket encumbrance\u201d means a trust deed, mortgage, judgment, or any other lien or encumbrance, including an option or contract to sell or a trust agreement, affecting a subdivision or affecting more than one lot offered within a subdivision except that such term shall not include any lien or other encumbrance arising as the result of the imposition of any tax assessment by any public authority;\n(8) \u201cinterstate commerce\u201d means trade or commerce among the several States or between any foreign country and any State;\n(9) \u201cState\u201d includes the several States, the District of Columbia, the Commonwealth of Puerto Rico, and the territories and possessions of the United States;\n(10) \u201cpurchaser\u201d means an actual or prospective purchaser or lessee of any lot in a subdivision;\n(11) \u201coffer\u201d includes any inducement, solicitation, or attempt to encourage a person to acquire a lot in a subdivision; and\n(12) \u201cBureau\u201d means the Bureau of Consumer Financial Protection.","url":"https://projectusc.org/usc/t15/s1701.html","content":[{"t":"sec","id":"/us/usc/t15/s1701","children":[{"t":"num","text":"\u00a7\u202f1701."},{"t":"heading","text":"Definitions","tail":"\n"},{"t":"chapeau","text":"For the purposes of this chapter, the term\u2014"},{"t":"para","id":"/us/usc/t15/s1701/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" \u201cDirector\u201d means the Director of the Bureau of Consumer Financial Protection;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1701/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" \u201cperson\u201d means an individual, or an unincorporated organization, partnership, association, corporation, trust, or estate;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1701/3","children":[{"t":"num","text":"(3)"},{"t":"content","text":" \u201csubdivision\u201d means any land which is located in any State or in a foreign country and is divided or is proposed to be divided into lots, whether contiguous or not, for the purpose of sale or lease as part of a common promotional plan;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1701/4","children":[{"t":"num","text":"(4)"},{"t":"content","text":" \u201ccommon promotional plan\u201d means a plan, undertaken by a single developer or a group of developers acting in concert, to offer lots for sale or lease; where such land is offered for sale by such a developer or group of developers acting in concert, and such land is contiguous or is known, designated, or advertised as a common unit or by a common name, such land shall be presumed, without regard to the number of lots covered by each individual offering, as being offered for sale or lease as part of a common promotional plan;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1701/5","children":[{"t":"num","text":"(5)"},{"t":"content","text":" \u201cdeveloper\u201d means any person who, directly or indirectly, sells or leases, or offers to sell or lease, or advertises for sale or lease any lots in a subdivision;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1701/6","children":[{"t":"num","text":"(6)"},{"t":"content","text":" \u201cagent\u201d means any person who represents, or acts for or on behalf of, a developer in selling or leasing, or offering to sell or lease, any lot or lots in a subdivision; but shall not include an attorney at law whose representation of another person consists solely of rendering legal services;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1701/7","children":[{"t":"num","text":"(7)"},{"t":"content","text":" \u201cblanket encumbrance\u201d means a trust deed, mortgage, judgment, or any other lien or encumbrance, including an option or contract to sell or a trust agreement, affecting a subdivision or affecting more than one lot offered within a subdivision except that such term shall not include any lien or other encumbrance arising as the result of the imposition of any tax assessment by any public authority;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1701/8","children":[{"t":"num","text":"(8)"},{"t":"content","text":" \u201cinterstate commerce\u201d means trade or commerce among the several States or between any foreign country and any State;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1701/9","children":[{"t":"num","text":"(9)"},{"t":"content","text":" \u201cState\u201d includes the several States, the District of Columbia, the Commonwealth of Puerto Rico, and the territories and possessions of the United States;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1701/10","children":[{"t":"num","text":"(10)"},{"t":"content","text":" \u201cpurchaser\u201d means an actual or prospective purchaser or lessee of any lot in a subdivision;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1701/11","children":[{"t":"num","text":"(11)"},{"t":"content","text":" \u201coffer\u201d includes any inducement, solicitation, or attempt to encourage a person to acquire a lot in a subdivision; and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1701/12","children":[{"t":"num","text":"(12)"},{"t":"content","text":" \u201cBureau\u201d means the Bureau of Consumer Financial Protection.","tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}