Sandra is buying a condominium unit in Seattle. She receives the seller's completed Form 17 (Seller Disclosure Statement) on Tuesday and the condominium's public offering statement on the same day. Sandra wants to know the latest she can rescind each document separately. Which of the following correctly states her rescission deadlines under Washington law?
Correct Answer
A) Three business days for Form 17 and five business days for the public offering statement, both from Tuesday.
Under RCW 64.06.013, a buyer has three business days to rescind after receiving Form 17. Under RCW 64.34.410, a buyer of a new condominium has five business days to rescind after receiving the public offering statement. These are two separate statutory rescission rights with different timeframes, and both run from the date of receipt.
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