Under Hawaii Revised Statutes Chapter 467B, how many days does a time share purchaser have to rescind a time share purchase contract after signing the contract or receiving the required disclosure documents, whichever is later?
Correct Answer
C) Seven calendar days after the later of signing or receiving disclosure documents
Under HRS Chapter 467B, a time share purchaser in Hawaii has seven calendar days to rescind a time share purchase contract. The rescission period begins from the date the purchaser signs the contract or receives the required disclosure documents, whichever occurs later. This seven-day right of rescission is a mandatory statutory protection that cannot be waived by the purchaser.
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Related Topics & Key Terms
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Related Concepts
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
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