A Connecticut buyer signs a purchase contract for a residential property and receives the Residential Property Condition Disclosure Report three days after signing. The report reveals a history of oil tank leaks on the property. The buyer wants to rescind the contract based on both the late delivery of the disclosure and the oil tank issue. The seller argues the buyer has already waived rescission rights by not acting immediately. Which analysis is most accurate under Connecticut law?

Correct Answer

D) The buyer retains the right to rescind within three days of receiving the report due to late delivery under CGS § 20-327b, and the oil tank history may also trigger Transfer Act obligations under CGS § 22a-134

Under CGS § 20-327b, when a seller delivers the disclosure report after the purchase contract is signed, the buyer has three days from receipt of the report to rescind the contract. The buyer here received the report three days after signing, so the three-day rescission window is still available. Additionally, a history of oil tank leaks may constitute a hazardous substance condition that triggers the Connecticut Transfer Act (CGS § 22a-134), adding a separate layer of compliance concern. The seller's argument that rescission rights were waived is incorrect — the statute explicitly preserves the buyer's right to rescind when disclosure is late.