Property Ownership
Virginia's Condominium Act allows a purchaser of a new condo to rescind the contract within how many days of receiving the required disclosure packet?
A3 days✓ Correct
B5 days
C10 days
D14 days
Explanation
Under the Virginia Condominium Act, a purchaser may rescind a new condominium contract within 3 days of receiving the required condo disclosure packet (resale disclosure) or execution of the contract, whichever is later.
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