sec.33Cooling-off period

### sec.33 Cooling-off period This section applies if the park owner for a residential park and a prospective home owner for a site enter into a site agreement for the site. The home owner may, within the cooling-off period, terminate the site agreement by giving a signed notice of the termination to— the park owner; and if the home owner has granted a person a security interest in the manufactured home positioned on the site—that person. The notice must state the day, within 28 days after the notice is given, the termination is effective (the termination day ). The home owner may terminate the agreement under subsection (2) even though— the home owner has affirmed the agreement; and the agreement has been fully executed. If the agreement is terminated under subsection (2) , the home owner is not liable to pay any amount otherwise payable under the agreement by the home owner to the park owner. If the agreement is terminated under subsection (2) , the park owner must, within 14 days after the termination day, refund any amount received under the agreement from the home owner. Maximum penalty—100 penalty units. An amount payable to the home owner under subsection (6) is recoverable as a debt. In this section— cooling-off period means the following period after the day the last person signed the site agreement— if the park owner has not given the prospective home owner the disclosure documents for the site as required under section 29 —28 days; otherwise—7 days. s 33 amd 2017 No. 42 s 22 (sec.33-ssec.1) This section applies if the park owner for a residential park and a prospective home owner for a site enter into a site agreement for the site. (sec.33-ssec.2) The home owner may, within the cooling-off period, terminate the site agreement by giving a signed notice of the termination to— the park owner; and if the home owner has granted a person a security interest in the manufactured home positioned on the site—that person. (sec.33-ssec.3) The notice must state the day, within 28 days after the notice is given, the termination is effective (the termination day ). (sec.33-ssec.4) The home owner may terminate the agreement under subsection (2) even though— the home owner has affirmed the agreement; and the agreement has been fully executed. (sec.33-ssec.5) If the agreement is terminated under subsection (2) , the home owner is not liable to pay any amount otherwise payable under the agreement by the home owner to the park owner. (sec.33-ssec.6) If the agreement is terminated under subsection (2) , the park owner must, within 14 days after the termination day, refund any amount received under the agreement from the home owner. Maximum penalty—100 penalty units. (sec.33-ssec.7) An amount payable to the home owner under subsection (6) is recoverable as a debt. (sec.33-ssec.8) In this section— cooling-off period means the following period after the day the last person signed the site agreement— if the park owner has not given the prospective home owner the disclosure documents for the site as required under section 29 —28 days; otherwise—7 days. - (a) the park owner; and - (b) if the home owner has granted a person a security interest in the manufactured home positioned on the site—that person. - (a) the home owner has affirmed the agreement; and - (b) the agreement has been fully executed. - (a) if the park owner has not given the prospective home owner the disclosure documents for the site as required under section 29 —28 days; - (b) otherwise—7 days.