Common Promotional Plan Law and Legal Definition

According to 15 USCS § 1701 (4), [Title 15. Commerce and Trade; Chapter 42. Interstate Land Sales] the term common promotional plan means “a plan, undertaken by a single developer or a group of developers acting in concert, to offer lots for sale or lease; where such land is offered for sale by such a developer or group of developers acting in concert, and such land is contiguous or is known, designated, or advertised as a common unit or by a common name, such land shall be presumed, without regard to the number of lots covered by each individual offering, as being offered for sale or lease as part of a common promotional plan.”