Contracts
In NJ, a condominium purchase contract must provide the buyer with a public offering statement and a right to rescind the contract within:
A3 business days
B7 calendar days after receiving all required documents✓ Correct
C10 business days
D30 calendar days
Explanation
Under the NJ Condominium Act and Real Estate Sales Full Disclosure Act, a buyer of a newly offered condominium unit has seven calendar days after receipt of the complete public offering statement to rescind the contract.
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