St. Petersburg, Fla. – Carlton Fields’ St. Petersburg Shareholder, Richard C. Linquanti, served as a panelist for the American Law Institute – American Bar Association (ALI-ABA) webcast entitled “ILSA: New Cases, New Home, New Direction.” The program was presented with the American College of Real Estate Lawyers and hosted participants ranging from attorneys practicing in real estate and business litigation, to other related professionals involved with interstate land sales.

The program provided insight on changes with the Interstate Land and Sales Act (ILSA). According to ALI-ABA, the Consumer Financial Protection Bureau (CFPB) now administers the Act in lieu of the Department of Housing and Urban Development (HUD). These changes present challenges (below) that were discussed in the program.

• Exemptions from registration requirements, including the exemption for improved lots and for subdivisions with less than one hundred lots.
• The use of an exemption as a prohibited "attempt to evade" the Act.
• Sale contract clauses addressing the Act’s requirements for disclosure of developer obligations and buyer remedies.
• Buyers' rights and remedies and the statutes of limitation governing their enforcement.
• The organization and approach of the CFPB in administering the Act, in place of HUD.

Linquanti is a member of Carlton Fields’ Real Estate & Finance and Corporate, Securities & Tax Practice Groups. He practices primarily in law relating to land business, including finance (borrowing and lending sides), Interstate Land Sales Full Disclosure Act, business planning and implementation, front-end transaction structuring, partnerships, limited liability companies, and joint ventures, land use, and condominium, mixed-use and master communities; and has a substantial background in public-private partnerships, governmental entities and community non-profit corporations.