2005 Minnesota Statutes - 515A.4-1075 — Purchaser\'s right to cancel.

     515A.4-1075 Purchaser's right to cancel.  


    (a) The information required to be delivered by section 
 515A.4-107 shall be delivered to a purchaser not later than the 
 date of any purchase agreement.  Unless a purchaser is given the 
 information more than 15 days prior to the execution of the 
 purchase agreement for the unit the purchaser may, prior to the 
 conveyance, cancel the agreement within 15 days after receiving 
 the information.  


    (b)  A purchaser who elects to cancel a purchase agreement 
 pursuant to subsection (a), may do so by hand delivering notice 
 thereof to the seller or the seller's agent or by mailing notice 
 thereof 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: 1980 c 582 art 4 s 515.4-1075; 1986 c 444