Under PREDFDA in New Jersey, how many days does a buyer have to rescind a purchase contract after receiving the Public Offering Statement from a developer?
Correct Answer
D) 7 days
PREDFDA, N.J.S.A. 45:22A-21 et seq., grants buyers a seven-day right of rescission after receiving the Public Offering Statement (POS) from the developer. This cooling-off period allows buyers to review the POS and cancel the contract without penalty within seven calendar days.
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The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
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FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
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