Definition: A disclosure document used for covered subdivision offerings under the federal Interstate Land Sales Full Disclosure Act. It gives prospective buyers prescribed information about the development and lots.
Example
A developer in a covered offering provides the required report before the buyer signs the purchase agreement.
Keep the distinction clear
Do not use acreage alone to decide whether the law applies. Lot counts, transaction features, and exemptions matter; the report is disclosure, not government approval of the investment.
Related terms
Subdivide · Subdivision Plat Map · Material Fact
Keep studying
Interstate Land Sales: Why Do Study Materials Mention Both 25 and 100 Lots?
References: CFPB: Interstate Land Sales registration
Pronunciation (US): PRAH-per-tee ree-PORT (capitals show stress)
Pronunciation reference: Merriam-Webster
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