Robert is purchasing a home in Bellevue. The seller delivers Form 17 on a Wednesday. Thursday is Thanksgiving, a federal holiday, and Friday the seller's office is closed. Robert wants to know the last day he can rescind. Assuming Monday is the next business day after Friday, when does Robert's three-business-day rescission period under RCW 64.06 expire?
Correct Answer
A) The following Tuesday
The buyer has three business days after receipt of the disclosure statement. Treat Wednesday as the receipt day, skip Thursday because it is a legal holiday, then count Friday as Day 1, Monday as Day 2, and Tuesday as Day 3. The seller's office closure on Friday does not turn Friday into a legal holiday. Option A is correct.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
Many states and localities have fair housing laws that expand upon the protections offered by the federal Fair Housing Act.
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