Maria is purchasing a single-family home in Trenton, New Jersey. The seller did not provide her with a Property Condition Disclosure Statement before she signed the purchase contract. Under the New Jersey Residential Property Condition Disclosure Act, what right does Maria have?
Correct Answer
D) Maria may rescind the contract within five days of receiving the disclosure statement.
Under the New Jersey Residential Property Condition Disclosure Act (N.J.S.A. 46:3C-1 et seq.), if the seller fails to provide the Property Condition Disclosure Statement before or at the time the buyer signs the purchase contract, the buyer has the right to rescind the contract within five calendar days of receiving the statement. This five-day rescission right is a specific and heavily tested NJ statutory protection.
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