367.477 Statement of buyer's rights. (1) In the sale of any interest subject to KRS 367.472, 367.474, 367.4774, 367.4776, 367.4778, 367.484, 367.993, and this section, the subdivider shall present to the buyer and obtain his signature to a written agreement or offer to purchase which designates as the date of the transaction the date on which the buyer actually signs and contains a statement of the buyer's rights which complies with subsection (2) of this section. (2) The statement shall: (a) Appear under the conspicuous caption: "BUYER'S RIGHT TO CANCEL," in bold-face type of a minimum size of fourteen (14) points; and (b) Read as follows: "If you decide you do not want this interest you may cancel this agreement by mailing a notice to the seller. The notice must say that you do not want the interest and must be mailed before midnight of the fifth business day after you sign this agreement. The notice must be mailed to: ........................................................................................................ ........................................................................................................" (3) A copy of the written agreement or offer to purchase containing the notice of right to cancel shall be given to the buyer on the date the buyer signs. (4) Until the seller has complied with this section, the buyer may cancel the sale by notifying the seller in any manner and by any means of his intention to cancel. Effective: July 14, 1992 History: Amended 1992 Ky. Acts ch. 209, sec. 6, effective July 14, 1992. -- Created 1988 Ky. Acts ch. 194, sec. 4, effective July 15, 1988.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.