Under Tennessee law, which of the following statements about the Property Condition Disclosure rescission right is NOT accurate?
Correct Answer
A) The rescission right applies even when the disclosure form is provided to the buyer before the contract is signed
Under Tenn. Code Ann. § 66-5-210, the three-business-day rescission right is triggered only when the disclosure form is delivered after contract execution. If the disclosure is provided before the contract is signed, no rescission right under the Act is triggered. Therefore, the statement that the rescission right applies even when the form is provided before contract signing is NOT accurate — it is factually incorrect under Tennessee law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Radon disclosure involves informing buyers about the presence or potential presence of radon gas in a property. Radon is a naturally occurring radioactive gas that can accumulate in buildings and is the second leading cause of lung cancer.
Fair housing laws apply to a broad range of activities related to housing, including sale, rental, financing, and advertising.
A seller's disclosure statement is a form that sellers complete to inform buyers about the condition and history of the property, including known defects, past repairs, insurance claims, and environmental issues.
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