367.4771 Cancellation of purchase of an interest from subdivider. (1) In addition to any right otherwise to revoke an offer, the buyer has the right to cancel a purchase of an interest from a subdivider until midnight of the fifth business day after the day on which the buyer signs an agreement or offer to purchase which is subject to KRS 367.470 to 367.486. (2) Cancellation occurs when the buyer gives written notice of cancellation to the subdivider at the address stated in the agreement or offer to purchase. (3) Notice of cancellation, if given by mail, is given when it is deposited in a mailbox, properly addressed and postage prepaid. (4) Notice of cancellation given by the buyer need not take a particular form and is sufficient if it indicates by any form of written expression the intention of the buyer not to be bound by the purchase of an interest. Effective: July 15, 1988 History: Created 1988 Ky. Acts ch. 194, sec. 3, effective July 15, 1988.
Kentucky Legal Code