2001 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 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