Robert is buying a home in Kalamazoo. After signing the purchase agreement, he receives the Seller's Disclosure Statement and discovers that the seller disclosed a prior termite infestation that was treated five years ago. Robert is concerned about potential ongoing damage. Under the Michigan Seller Disclosure Act, which of the following statements is most accurate regarding Robert's options?
Correct Answer
D) Robert may rescind the purchase agreement within 72 hours of receiving the disclosure statement by delivering written notice to the seller
Under MCL 565.957, when a buyer receives the Seller's Disclosure Statement after signing the purchase agreement, the buyer has 72 hours from receipt to rescind the purchase agreement by delivering written notice of rescission. This right exists regardless of the nature of the disclosed defect. Robert's receipt of the disclosure after signing triggers this 72-hour rescission window.
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Related Topics & Key Terms
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Related Concepts
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