Patricia is purchasing a condominium unit in a Maryland condominium community. The seller provides Patricia with the required resale package, which includes the condominium's governing documents, financial statements, and disclosure of current assessments. Under Maryland's Condominium Act, how many days does Patricia 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 resale unit has seven (7) days to rescind the contract after receiving the complete resale package from the seller. This rescission period is specifically tied to the receipt of the resale package and is distinct from the three-day rescission period under the Residential Property Disclosure and Disclaimer Act.
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