New South Wales Consolidated Acts

CONVEYANCING ACT 1919 - SECT 66ZD

66ZD Cooling off rights

(1) The purchaser under an option to purchase residential property may serve a written notice to the effect that the purchaser rescinds the option.

(2) The notice may only be served during the cooling off period.

(3) The notice of rescission must be signed by--

(a) the purchaser or the purchaser's solicitor, or

(b) if there is more than one purchaser, each of the purchasers or their respective solicitors.

(4) The notice of rescission must be served on--

(a) the vendor or the vendor's solicitor, or

(b) if there is more than one vendor, any one of the vendors or the solicitor of any of them, or

(c) the agent of the vendor or vendors.

(5) Service of a notice under this section may be effected in accordance with section 170 or at the address of the vendor shown in the option or in the proposed contract attached to the option or in accordance with the service provisions in the option or proposed contract attached to the option.