Disclosure of defect after offer accepted; buyer's right to nullify
contract; return of deposits
Sec. 13. (a) Notwithstanding section 12 of this chapter, if a
prospective buyer receives a disclosure form or an amended
disclosure form after an offer has been accepted that discloses a
defect, the prospective buyer may after receipt of the disclosure form
and within two (2) business days nullify the contract by delivering a
written rescission to the owner or the owner's agent, if any.
(b) A prospective buyer is not liable for nullifying a contract
under this section and is entitled to a return of any deposits made in
the transaction.
As added by P.L.2-2002, SEC.6.
Last modified: May 24, 2006