United States Fourth Circuit

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Long v. Crowley, 08-2371

In plaintiffs' suit against the developer of a condominium complex seeking to rescind their contracts and obtain refunds of their deposits, claiming violations of the Interstate Land Sales Full Disclosure Act (ILSFDA), district court's grant of defendant's motion for summary judgment is reversed and remanded where: 1) to qualify for the Improved Lot Exemption under section 1702(a)(2), the sales contract must obligate the seller to build and deliver the required structure within two years of the date that the purchaser signs the contract and incurs obligations, rather than within two years of the date that the seller signs the contract; 2) the sales contracts for the 182 condominiums did not obligate defendant to construct the condominiums within two years of the date that the purchasers signed the contracts and incurred obligations, and as such, these contracts were not exempt from regulation under ILSFDA; and 3) because the 192 sales contracts were not exempt, the 100 Lot Exemption could not be relied on to exempt the remaining condominiums because there were more than 100 lots or units in the development that were not exempt.

Appellate Information

  • Argued 05/14/2010
  • Submitted 07/13/2010
  • Decided 07/13/2010
  • Published 07/13/2010

Judges

  • <a href="http://pview.findlaw.com/view/2492068_1">NIEMEYER, J.</a>

Court

  • United States Fourth Circuit

Counsel

  • For Appellant:
  • John Connell Altmiller, Jr., <a href="http://pview.findlaw.com/view/1824619_1">Edward W. Cameron</a>