The nine-day rescission period for a new condominium purchase begins after which event?

• A. After the developer delivers certain documents to the purchaser.
• B. On signing of the purchase agreement.
• C. When the title is recorded.
• D. When the purchase is funded.

Answer: (A)

The key idea is that the right to rescind exists to give the buyer time to review important disclosure information before the contract becomes binding. In a new condominium purchase, the nine-day period starts when the developer delivers the required documents (such as the disclosure packet) to the purchaser. Once those documents are provided, the buyer has nine days to cancel for any reason. Signing the purchase agreement, recording title, or funding the purchase happen after the countdown begins and do not trigger the start of the rescission period.