Property Ownership
Under the PA Planned Community Act, a declarant must provide a public offering statement to a buyer of a unit in a planned community. The buyer has how many days to rescind after receiving the statement?
A3 days
B5 days
C7 days✓ Correct
D15 days
Explanation
Pennsylvania's Planned Community Act gives a buyer 7 days to rescind their purchase contract after receiving the public offering statement from the declarant. This right of rescission cannot be waived before the statement is delivered.
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