2007 Minnesota Statutes

325N.02 RESCISSION OF FORECLOSURE CONSULTANT CONTRACT.
(a) In addition to any other right under law to rescind a contract, an owner has the right to
cancel such a contract until midnight of the third business day after the day on which the owner
signs a contract which complies with section 325N.03.
(b) Cancellation occurs when the owner gives written notice of cancellation to the foreclosure
consultant at the address specified in the contract.
(c) Notice of cancellation, if given by mail, is effective when deposited in the mail properly
addressed with postage prepaid.
(d) Notice of cancellation given by the owner need not take the particular form as provided
with the contract and, however expressed, is effective if it indicates the intention of the owner not
to be bound by the contract.
History: 2004 c 263 s 2

NOTE: This section, as added by Laws 2004, chapter 263, section 2, expires December
31, 2009. Laws 2004, chapter 263, section 26.