2004 Minnesota Statutes

     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, by a delivery method 
 described in that section, more than five days prior to the 
 execution of the purchase agreement for the unit the purchaser 
 may, prior to the conveyance, cancel the purchase agreement 
 within five days after receiving the information.  Except as 
 expressly provided in this chapter, the five-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; 2004 c 203 
 art 1 s 8