---
kind: "section"
citation: "15 U.S.C. § 1705"
title: "15"
title_heading: "Commerce and Trade"
number: "1705"
heading: "Information required in statement of record"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/1705"
units:
  - "Chapter 42 — Interstate Land Sales"
---

# §1705. Information required in statement of record


The statement of record shall contain the information and be accompanied by the documents specified hereinafter in this section—

- (1) the name and address of each [person](/usc/15/1701.md?p=2) having an interest in the lots in the [subdivision](/usc/15/1701.md?p=3) to be covered by the statement of record and the extent of such interest;
- (2) a legal description of, and a statement of the total area included in, the [subdivision](/usc/15/1701.md?p=3) and a statement of the topography thereof, together with a map showing the division proposed and the dimensions of the lots to be covered by the statement of record and their relation to existing streets and roads;
- (3) a statement of the condition of the title to the land comprising the [subdivision](/usc/15/1701.md?p=3), including all encumbrances and deed restrictions and covenants applicable thereto;
- (4) a statement of the general terms and conditions, including the range of selling prices or rents at which it is proposed to dispose of the lots in the [subdivision](/usc/15/1701.md?p=3);
- (5) a statement of the present condition of access to the [subdivision](/usc/15/1701.md?p=3), the existence of any unusual conditions relating to noise or safety which affect the [subdivision](/usc/15/1701.md?p=3) and are known to the [developer](/usc/15/1701.md?p=5), the availability of sewage disposal facilities and other public utilities (including water, electricity, gas, and telephone facilities) in the [subdivision](/usc/15/1701.md?p=3), the proximity in miles of the [subdivision](/usc/15/1701.md?p=3) to nearby municipalities, and the nature of any improvements to be installed by the [developer](/usc/15/1701.md?p=5) and his estimated schedule for completion;
- (6) in the case of any [subdivision](/usc/15/1701.md?p=3) or portion thereof against which there exists a [blanket encumbrance](/usc/15/1701.md?p=7), a statement of the consequences for an individual [purchaser](/usc/15/1701.md?p=10) of a failure, by the [person](/usc/15/1701.md?p=2) or [persons](/usc/15/1701.md?p=2) bound, to fulfill obligations under the instrument or instruments creating such encumbrance and the steps, if any, taken to protect the [purchaser](/usc/15/1701.md?p=10) in such eventuality;
- (7)
  - (A) copy of its articles of incorporation, with all amendments thereto, if the [developer](/usc/15/1701.md?p=5) is a corporation; (B) copies of all instruments by which the trust is created or declared, if the [developer](/usc/15/1701.md?p=5) is a trust; (C) copies of its articles of partnership or association and all other papers pertaining to its organization, if the [developer](/usc/15/1701.md?p=5) is a partnership, unincorporated association, joint stock company, or any other form of organization; and (D) if the purported holder of legal title is a [person](/usc/15/1701.md?p=2) other than [developer](/usc/15/1701.md?p=5), copies of the above documents for such [person](/usc/15/1701.md?p=2);
- (8) copies of the deed or other instrument establishing title to the [subdivision](/usc/15/1701.md?p=3) in the [developer](/usc/15/1701.md?p=5) or other [person](/usc/15/1701.md?p=2) and copies of any instrument creating a lien or encumbrance upon the title of [developer](/usc/15/1701.md?p=5) or other [person](/usc/15/1701.md?p=2) or copies of the opinion or opinions of counsel in respect to the title to the [subdivision](/usc/15/1701.md?p=3) in the [developer](/usc/15/1701.md?p=5) or other [person](/usc/15/1701.md?p=2) or copies of the title insurance policy guaranteeing such title;
- (9) copies of all forms of conveyance to be used in selling or leasing lots to [purchasers](/usc/15/1701.md?p=10);
- (10) copies of instruments creating easements or other restrictions;
- (11) such certified and uncertified financial statements of the [developer](/usc/15/1701.md?p=5) as the [Director](/usc/15/1701.md?p=1) may require; and
- (12) such other information and such other documents and certifications as the [Director](/usc/15/1701.md?p=1) may require as being reasonably necessary or appropriate for the protection of [purchasers](/usc/15/1701.md?p=10).

## Source credit

(Pub. L. 90–448, title XIV, § 1406, Aug. 1, 1968, 82 Stat. 592; Pub. L. 91–609, title IX, § 909, Dec. 31, 1970, 84 Stat. 1811; Pub. L. 111–203, title X, § 1098A(1), July 21, 2010, 124 Stat. 2105.)

## Notes

### Editorial Notes

### Amendments

2010—Pars. (11), (12). Pub. L. 111–203 substituted “Director” for “Secretary”.

1970—Par. (5). Pub. L. 91–609 required the statement of record to contain a statement of the existence of any unusual conditions relating to noise or safety which affect the subdivision and are known to the developer.

### Statutory Notes and Related Subsidiaries

### Effective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

### Effective Date

Section effective upon the expiration of two hundred and seventy days after Aug. 1, 1968, see section 1423 of Pub. L. 90–448, set out as a note under section 1701 of this title.