Minnesota § 515B.4-108 515B.4-108 PURCHASER'S RIGHT TO CANCEL RESALE.

Minnesota Statutes

§ 515B.4-108 — 515B.4-108 PURCHASER'S RIGHT TO CANCEL RESALE.

Minnesota § 515B.4-108

PartPROPERTY AND PROPERTY INTERESTS

Ch. 515BMINNESOTA COMMON INTEREST OWNERSHIP ACT

This text of Minnesota § 515B.4-108 (515B.4-108 PURCHASER'S RIGHT TO CANCEL RESALE.) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 515B.4-108 (2026).

Text

(a)Unless a purchaser is given the information required to be delivered by section515B.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. The ten-day rescission period may be modified or waived, in writing, by agreement of the purchaser of a unit only after the purchaser has received and had an opportunity to review the information required to be delivered by section515B.4-107. The person required to deliver the information required to be delivered by section515B.4-107may not condition the sale of the unit on the purchaser agreeing to modify or waive the purchaser's ten-day right of rescission, may not contractually obligate the pu

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(a) Unless a purchaser is given the information required to be delivered by section515B.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. The ten-day rescission period may be modified or waived, in writing, by agreement of the purchaser of a unit only after the purchaser has received and had an opportunity to review the information required to be delivered by section515B.4-107. The person required to deliver the information required to be delivered by section515B.4-107may not condition the sale of the unit on the purchaser agreeing to modify or waive the purchaser's ten-day right of rescission, may not contractually obligate the purchaser to modify or waive the purchaser's ten-day right of rescission, and may not include a modification or waiver of the ten-day right of rescission in any purchase agreement for the unit. To be effective, a modification or waiver of a purchaser's ten-day right of rescission must be evidenced by an instrument separate from the purchase agreement signed by the purchaser more than three days after the purchaser receives the resale disclosure certificate.
(b) A purchaser who elects to cancel a purchase agreement pursuant to subsection (a), may do so by giving notice thereof to the seller or the seller's agent pursuant to section515B.1-115or, if the seller or the seller's agent has provided an electronic address at which the seller or seller's agent agrees to receive electronic communication, as defined in section317A.011, subdivision7a, by electronic communication sent to that address. Cancellation is without penalty and all payments made by the purchaser shall be refunded promptly.