02-1031. Notice of Proposed Information Collection: Comment Request; Land Sales Registration, Purchaser's Revocation Rights, Sales Practices and Standards, and Formal Procedures and Rules of Practice

AGENCY:

Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD.

ACTION:

Notice.

SUMMARY:

The proposed information collection requirement described below will be submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal.

DATES:

Comments Due Date: March 18, 2002.

ADDRESSES:

Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB Control Number and should be sent to: Wayne Eddins, Reports Management Officer, Department of Housing and Urban Development, 451 7th Street, SW., L'Enfant Plaza Building, Room 8001, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT:

Ivy Jackson, Acting Director, Interstate Land Sales/RESPA Division, Office of Consumer and Regulatory Affairs, Department of Housing and Urban Development, 451 7th Street, SW, Washington, DC 20410, telephone [phone] (this is not a toll free number) for copies of the proposed forms and other available information.

SUPPLEMENTARY INFORMATION:

The Department is submitting the proposed information collection to OMB for review, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35, as amended).

This notice is soliciting comments from members of the public and affected agencies concerning the proposed collection of information to: (1) Evaluate whether the proposed collection is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (2) Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information; (3) Enhance the quality, utility, and clarity of the information to be collected; and (4) Minimize the burden of the collection of information on those who are to respond; including the use of appropriate automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses.

This Notice also lists the following information:

Title of Proposal: Land Registration, Purchaser's Revocation Rights, Sales Practices and Standards, and Formal Procedures and Rules of Practice.

OMB Control Number, if applicable: 2502-0243.

Description of the need for the information and proposed use: The Interstate Land Sales Full Disclosure Act protects consumers from fraud in the sale of land by requiring developers of non-exempt subdivisions to register with HUD and give purchasers a property report. The property report discloses facts about the land so the purchaser can make an informed lot purchase and tells them of their revocation rights. Developers are required to register subdivisions of 100 or more non-exempt lots with HUD.

Agency form numbers, if applicable: None.

Estimation of the total numbers of hours needed to prepare the information collection including number of respondents, frequency of response, and hours of response: There is a total of 19,579 annual burden hours estimated for a total of approximately 5,270 respondents. The frequency of response is on occasion, annually, and third-party disclosure totaling 117,958 total annual responses.

Status of the proposed information collection: Extension of a currently approved information collection.

Authority: The Paperwork Reduction Act of 1995, 44 U.S.C., Chapter 35, as amended.

Dated: January 6, 2002.

John C. Weicher,

Assistant Secretary for Housing—Federal Housing Commissioner.