Kevin is purchasing a condominium unit in Baltimore. The seller provides Kevin with the required Maryland condominium resale package. Kevin reviews the documents and finds that the condominium association has a pending special assessment of $8,000. Kevin decides he no longer wants to proceed. Under the Maryland Condominium Act, how many days does Kevin have to rescind the contract after receiving the complete resale package?
Correct Answer
C) 7 days
Under the Maryland Condominium Act (Md. Code Ann., Real Prop. § 11-135), a buyer of a condominium unit has 7 days after receiving the complete resale package to rescind the purchase contract without penalty. This right of rescission is designed to protect buyers who discover material information — such as pending special assessments — in the resale documents that may affect their decision to purchase.
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