12 CFR 1010.8
§ 1010.8 Scattered site subdivisions.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 1010.8, § 1010.8 Scattered site subdivisions, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/49332
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Full text
(a) The sale of lots in a subdivision consisting of noncontiguous parts is exempt from the registration requirements of the Act if:
(1) Each noncontiguous part of the subdivision contains twenty or fewer lots; and
(2) Each purchaser or purchaser's spouse makes a personal, on-the-lot inspection of the lot purchased prior to signing a contract.
(b) For purposes of this exemption, interruptions such as roads, parks, small bodies of water or recreational facilities do not serve to break the contiguity of parts of a subdivision.
(c) The sale must also comply with the anti-fraud provisions of § 1010.4(b) and (c) of this part.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.