It shall be unlawful for any person, organization or entity to subdivide any land within the Village, or within any area over which the Village has subdivision jurisdiction, unless said subdivision complies with the regulations herein contained. No plat shall be recorded and no land or lot shall be sold until said plat has been approved as herein required. All land contracts and/or long term leases affecting a present or future subdivision of land, as defined in Chapter 1107, shall be subject to the requirements of this Ordinance.