Condominium Protection Act

[AI summary unavailable — showing source text] Condominium Protection Act - States that it shall be unlawful for any developer or agent, directly or indirectly, to make use of any means or instruments of transportation or communication in interstate commerce, or of the mails: (1) to sell or lease any condominium in any project unless a statement of record and a printed public offering statement with respect to such condominium is in effect in accordance with the provisions of this Act, is furnished to the purchaser in advance of the signing of any contract or agreement for sale or lease by the purchaser; and (2) in selling or leasing, or offering to sell or lease, any condominium in a project to employ any device, scheme, or artifice to defraud, or to obtain money or property by means of a material misrepresentation with respect to any information included in the statement of record or the public offering statement or with respect to any other information pertinent to the lot or the subdivision and upon which the purchaser relies, or to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon a purchaser. Provides that any contract or agreement for the purchase or leas…