§1141.50. Substantial completion of lots
A. In the case of a sale of a lot for which delivery of a public offering statement is
required, a contract to sell may be executed, but the declarant shall transfer no interest in the
lot until the declaration is filed for registry, the requirements of R.S. 33:114 et seq. have been
met, and all other required governmental approvals have been obtained.
B. When a declarant has transferred an interest in a lot in a planned community in
violation of Subsection A of this Section, the purchaser shall have the right to rescind the
transfer or demand specific performance that the declarant take the actions described in
Subsection A of this Section and to pursue any other remedy provided by law for the
declarant's failure to comply with the provisions of Subsection A of this Section.
Acts 2024, No. 158, §2, eff. Jan. 1, 2025.