ID S1251

Creates a five-day rescission right allowing purchasers to cancel subdivided land contracts without cause by delivering written notice to the subdivider by 11:59 p.m. on the fifth calendar day after execution.

Increases maximum registration and application fees from $2,500 to $3,000, with a 25% reduction available for applicants using the web-based document management system sponsored by the association of real estate license law officials.

Requires subdividers to file renewal reports reflecting material changes in registration information and report convictions or judgments within 30 days; grants the commission authority to issue cease and desist orders for renewal deficiencies.

Mandates that public offering statements disclose the rescission right prominently in boldface type and requires all advertising material be submitted to the commission prior to use.

Establishes that any offer or disposition in violation of the chapter constitutes an unfair and deceptive practice under Idaho's Consumer Protection Act and makes willful violations a felony.