Condominium Protection Act
Latest action. Referred to House Committee on Banking and Currency.
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 leasing of a condominium in a project covered by this Act, where the public offering statement has not been given to the purchaser in advance or at the time of his signing, shall be voidable at the option of the purchaser. Requires a project to be registered by filing with the Secretary of Housing and Urban Development a statement of record, and specifies the information to be contained in such statement. States that a public offering statement relating to the condominiums in a project shall contain such of the information contained in the statement of record, and any amendments thereto, as the Secretary may deem necessary, and shall disclose fully and accurately the characteristics of the project and the condominiums therein offered and shall make known to prospective purchasers all unusual and material circumstances or features affecting the condominiums. Provides that the public offering statement shall not be used for any promotional purposes before registration of the project and afterward only if it is used in its entirety. Provides that any person who willfully violates any provision of this Act, or any person who willfully, in a statement of record filed under, or in a public offering statement issued pursuant to this Act, makes any untrue statement of a material fact or omits to state any material fact required to be stated therein, shall upon conviction be fined not more than $5,000 or imprisoned not more than five years, or both. States that, unless the method of disposition is adopted for the purpose of evasion of this Act, the provisions of this Act shall not apply to: (1) the sale or lease of real estate not pursuant to a common promotional plan to offer or sell condominiums in a project; (2) the sale or lease of condominiums solely for commercial or industrial purposes or users; (3) the sale or lease of real estate under or pursuant to court order; or (4) the sale or lease of real estate by any government or government agency. Grants jurisdiction to United States District Courts over any suit or action which may be brought to enforce any liability or duty created by this Act. Authorizes to be appropriated such sums as may be necessary to carry out this Act.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on September 17, 1974. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on September 17, 1974: Referred to House Committee on Banking and Currency.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 93rd Congress (1973-74), 651 of the 23,396 bills and joint resolutions introduced became law, about 2.8 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
LES ASPIN (D-WI) introduced it on September 17, 1974. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on September 17, 1974, 18986 days ago. The most recent recorded action was 18986 days ago, on September 17, 1974.
Measures do not carry over. Anything the 93rd Congress has not finished by January 3, 1975 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers