2000 Minnesota Code
Chapters 500 - 515B Property Interests and Liens
Chapter 515B Minnesota Common Interest Ownership Act
Section 515B.4-108 Purchaser's right to cancel resale.
515B.4-108 Purchaser's right to cancel resale.
(a) Unless a purchaser is given the information required to be delivered by section 515B.4-107 more than ten days prior to the execution of the purchase agreement for the unit the purchaser may, prior to the conveyance, cancel the purchase agreement within ten days after receiving the information. Except as expressly provided in this chapter, the ten-day rescission period cannot be waived.
(b) A purchaser who elects to cancel a purchase agreement pursuant to subsection (a), may do so by hand delivering notice thereof or mailing notice by postage prepaid United States mail to the seller or the agent. Cancellation is without penalty and all payments made by the purchaser shall be refunded promptly.
HIST: 1993 c 222 art 4 s 8; 1999 c 11 art 2 s 29
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