§1705 Information required in statement of record

Summary

Must list who has an interest in the lots, with names, addresses, and how much interest each person has. Must describe the land and show a map with lot sizes, layout, nearby streets, total area, and the general shape or terrain. Must say who actually owns the title and note any liens, deed limits, or covenants. Must give general sales or rental terms and the expected price range. Must describe access, any known noise or safety problems, whether sewage and utilities (water, electricity, gas, telephone) are available, how many miles to nearby towns, and what improvements the developer will install and when they will be done. If a blanket encumbrance covers the subdivision, it must explain what happens to a buyer if the people bound by that encumbrance fail to do their part and what protections exist. It must also include the developer’s organization papers (corporation, trust, partnership, etc.), deeds or title documents and any liens or title opinions or insurance, the forms buyers will sign, easement or restriction instruments, financial statements the Director requires, and any other documents the Director finds reasonably necessary to protect buyers.