Under the Interstate Land Sales Full Disclosure Act, how many days does a purchaser have to cancel after receiving the disclosure report?

• A. 14 days
• B. 30 days
• C. 7 days
• D. 2 days

Answer: (C)

The key idea here is the cooling-off period required by the Interstate Land Sales Full Disclosure Act. After a purchaser receives the disclosure report, they have seven days to cancel the contract. This brief window gives time to review the information about the subdivision without pressure, which helps protect buyers in interstate land deals. The seven-day period is the standard set by the act, so other durations like fourteen, thirty, or two days don’t fit this requirement.