MN HF1275

Clarifies that the ten-day rescission period for purchasers begins upon delivery of the disclosure statement to the purchaser or the purchaser's agent (if written authorization provided).

Requires any modification or waiver of the ten-day rescission right to be in a separate written instrument signed by the purchaser more than three days after receiving the disclosure statement.

Prohibits sellers from conditioning the sale, contractually obligating the purchaser, or including rescission waivers in the purchase agreement itself.

Extends the ten-day cancellation right to purchasers who receive material and adverse amendments to the disclosure statement, with the same delivery and waiver rules applied.

Effective August 1, 2011, applying to purchase agreements signed on or after that date.