Under the South Carolina Vacation Time Sharing Plans Act, which of the following statements about the timeshare rescission right is NOT accurate?
Correct Answer
D) A purchaser may waive the rescission right in writing if advised by a licensed attorney
Option C is NOT accurate. Under S.C. Code Ann. § 27-32-170, the five-day rescission right cannot be waived under any circumstances, including when the purchaser is advised by a licensed attorney. The statute makes this right absolute and non-waivable, so any written waiver — regardless of attorney involvement — is void and unenforceable.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Market allocation is an illegal antitrust practice in which competing real estate brokerages agree to divide markets among themselves by geographic area, property type, or price range, thereby eliminating competition.
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
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