12 CFR 1011.2

§ 1011.2 Revocation regardless of registration.

United States · 12 CFR — Banks and Banking · Status: effective

Cite this

Citation: 12 CFR 1011.2, § 1011.2 Revocation regardless of registration, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/49400
Permanent ID: ys:prov:49400@1
SHA-256: 29041062a58f2273f8928180b1ffbca99d06e5c3fed85972683377876c577537

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Full text

All purchasers have the option to revoke a contract or lease with regard to a lot not exempt under §§ 1010.5 through 1010.11 and 1010.14 until midnight of the seventh day after the day that the purchaser signs a contract or lease. If a purchaser is entitled to a longer revocation period under state law, that period is deemed the Federal revocation period rather than the 7 days, and all contracts and agreements (including promissory notes) shall so state.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.