§ 250.100. Right to rescind.

Latest version.

A lessee may rescind a purchase agreement of a unit offered for sale hereunder by delivering to the declarant at the address stated in the purchase agreement by registered or certified United States mail, postage prepaid, a written notice of rescission within five (5) days of execution of such an agreement by the lessee. Upon receipt of such a notice of rescission the declarant shall promptly refund any earnest money received, without deduction therefrom or interest thereon, whereupon the purchase agreement shall become null and void. The rights under this section are in addition to the rights afforded purchasers under the Minnesota Uniform Condominium Act, Article 4. (79-Or-209, § 1, 10-26-79; Pet. No. 252271, § 49, 5-11-90)

                    
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