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MN HF1118
Bill
Status
Passed
5/15/2017
Primary Sponsor
Eric Lucero
Click for details
AI Summary
- Authorizes purchasers to cancel purchase agreements in common interest communities by electronic communication if the seller or seller's agent has provided an electronic address for receiving electronic communications
- Applies to both initial sales (Section 515B.4-106) and resale transactions (Section 515B.4-108) of units in common interest communities
- Maintains existing ten-day cancellation rights when disclosure statements or resale information are not provided more than ten days before purchase agreement execution
- Eliminates requirement for hand delivery or postage-prepaid mail as the only cancellation notice methods, allowing electronic communication as an alternative
- Preserves existing protections including cancellation without penalty, full refund of payments, and prohibition on conditioning sales on waiver of rescission rights
Legislative Description
Electronic delivery of cancellations of sale or resale authorized.
Last Action
Secretary of State Chapter 38 05/11/17
5/15/2017
Committee Referrals
Rules and Administration5/1/2017
Civil Law and Data Practices Policy2/13/2017
Full Bill Text
No bill text available