Cover page.

CFR · 2024-01-01 · US · Title 12

The cover page of the Property Report shall be prepared in accordance with the following directions: (a) The margins shall be at least 1 inch. (b) The next 3 inches shall contain a warning, centered, in (c) The remainder of the page shall contain the language set forth in section X of the appendix to this part: Language for Warning on Cover Page of Property Report beginning (d)(1) If the purchaser is entitled to a longer revocation period by operation of state law, that period becomes the Federal revocation period and the Cover Page must reflect the requirements of the longer period, rather than the seven days. (2)(i) If a deed is not delivered within 180 days of the signing of the contract or agreement of sale or unless certain provisions are included in the contract or agreement, the purchaser is entitled to cancel the contract within two years from the date of signing the contract or agreement. (ii) The deed must be a warranty deed, or where such a deed is not commonly used, a similar deed legally acceptable in the jurisdiction where the lot is located. The deed must be free and clear of liens and encumbrances. (iii) The contract provisions are: (A) A legally sufficient and recordable lot description; and (B) A provision that the seller will give the purchaser written notification of purchaser's default or breach of contract and the opportunity to have at least 20 days from the receipt of notice to correct the default or breach; and (C) A provision that, if the purchaser l

official document · source cfr-2024 · id 12:§ 1010.105