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Electronic Code of Federal Regulations

e-CFR data is current as of February 24, 2020

Title 12Chapter XPart 1011Subpart A → §1011.2


Title 12: Banks and Banking
PART 1011—PURCHASERS' REVOCATION RIGHTS, SALES PRACTICES AND STANDARDS (REGULATION K)
Subpart A—Purchasers' Revocation Rights


§1011.2   Revocation regardless of registration.

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.

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