New York License Law
The New York 'cooling off' period under the Condominium Act and co-op offering plans allows purchasers to:
ARenegotiate the price after signing
BRescind a purchase agreement within a specified period after receiving the offering plan✓ Correct
CObtain a refund of maintenance fees at any time
DTransfer their unit to a family member without board approval
Explanation
Under the NY Attorney General's regulations governing condo and co-op offering plans, purchasers typically have a rescission period after receiving the accepted offering plan, during which they may cancel the purchase agreement and receive a refund of their deposit.
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