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Milish Bill (11.R, 12574)
Ilud Proposal (11.R. 11265)
Senate Bill (S. 3084)
300 lots and sales to non-
exemptions 1) Limited sales
Sales of unimproved lots Raises limitation to
Cooperation with state authorities (Section 1409)
Proposed Regulations and Regulations The Secretary shall coop No change. erate with comparable state authorities and accept state filings as a substitute for section 1405 requirements if they are sufficiently protective of the consumer.
Developer is not excmpt Requires federal from any state laws, property report to unless inconsistent with be given in addition this title.
to any state report unless HUD okays state report.
Suit for specific performance (Section 1410)
Purcha ser may sue for Purcha ser may sue No provision. sp #cific performance for specific perof any promise made by formance and to developer in connection enforce obligations with the sale,
from property report or statement of record.
Minish Bill (H. R. 12574)
Statute of limitations (Section 1412)
Proposed Regulations and Regulations A) Suit based on absence No provision. of or material misrepresentation in statement of record and property report -1 year from discrovery
A) Time limit extended to 3 years from discovery
Senate Bill (H. R. 11265)