Relating to the cancellation of contract by purchaser

Summary

The bill requires sellers (unit owners) to give buyers a detailed resale certificate before a sale closes, and it gives buyers a right to cancel the contract if the certificate is missing or delayed. It sets a default three‑day cancellation window when the contract doesn’t specify a period, and protects sellers from liability for certificate errors. This aims to give purchasers clearer protection and certainty in condo and cooperative transactions.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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