Under the Interstate Land Sales Full Disclosure Act (ILSFDA) , how long does a buyer have to cancel an interstate real estate transaction?
A) until the transaction is finalized or within one week of receiving a disclosure document that contains information about the subdivision
B) up to a year after the transaction is finalized, assuming the buyer has kept proper records with respect to the fraudulent behavior of the real estate developer
C) one day
D) a minimum of seven days
E) ILSFDA does not protect against fraud after its commission, it only decreases the incidents of fraud by promoting transparency in interstate real estate transactions
Correct Answer:
Verified
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