Carolyn Maloney,
To amend the Interstate Land Sales Full Disclosure Act to clarify how the Act applies to condominiums…
(2013)
“ For purposes of subsection (b) , the term condominium unit means a unit of residential or commercial property to be designated for separate ownership pursuant to a condominium plan or declaration provided that upon conveyance— (1) the owner of such unit will have sole ownership of the unit and an undivided interest in the common elements appurtenant to the unit; and (2) the unit will be an improved lot.. ”
