§ 337-C — Right to cancel

§ 337-c. Right to cancel. Every contract or agreement for the sale\nor lease of subdivided lands shall expressly grant to the purchaser or\nlessee the absolute right to cancel the contract or agreement within\nseven days following the signing of the contract or agreement, by giving\nthe subdivider notice of cancellation at the address listed in the\noffering statement filed by the subdivider, by registered or certified\nmail return receipt requested. Within ten days of receipt of such a\nnotice of cancellation the subdivider shall return to the purchaser or\nlessee all consideration paid or delivered on account of such contract\nor agreement.\n