Tennessee Real Estate Exam Practice Question
A purchaser of a Tennessee timeshare may waive the statutory rescission period
Correct Answer: A
Rationale: In Tennessee, purchasers of timeshares are granted a statutory rescission period, which cannot be waived under any circumstances. This protection ensures that buyers have time to reconsider their decision without pressure.
Option B is incorrect as verifying funds with a bank does not influence the statutory rights of the purchaser. Option C misinterprets the law; the offer alone does not provide a basis for waiving the rescission period. Option D is also wrong; post-dating a check does not affect the legal right to rescind the purchase. Thus, the law firmly protects consumers by not allowing any waivers of this statutory period.
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