Definitions for "Property report"
A disclosure filed with the state when a time-share project or subdivision is sold.
1. A legal document prepared by a surveyor that illustrates the locations of all visible public and private improvements relative to property boundaries. 2. A legal disclosure that developers of timeshare properties are required to give to prospective buyers.
Required by the Interstate Land Act for the sale of subdivisions of 50 lots or more, if the subdivisions are not otherwise exempt. Filed with HUD's Office of Interstate Land Sales Registration (OILSR).