23Rescission during cooling-off period

#### 23 Rescission during cooling-off period 23 Rescission during cooling-off period > > (1) A person who enters into a site agreement with the operator of a community is entitled, during the cooling-off period for the agreement, to rescind the site agreement by serving a notice in writing to that effect on the operator. > > > > Note. > > > > This entitlement extends to a case where an existing home owner enters into a new site agreement with an operator. > > > (2) The cooling-off period for the agreement is the period— > > > > > (a) commencing on the date when the site agreement is entered into by the person, and > > > > > (b) ending at midnight on the day that is 14 days after the date the site agreement is entered into by the person. > > > (3) On service of the notice of rescission, the site agreement is taken to be rescinded from the commencement of the agreement. > > > (4) A person who rescinds a site agreement with an operator of a community under this section may also, during the cooling-off period for the site agreement, rescind any collateral agreement with the operator. The rescission is to be effected in the same way as, and has the same effect as, rescission of the site agreement. > > > (5) The rescission of a site agreement, or any collateral agreement, under this section does not entitle any person to compensation of any kind. > > > (6) A person who enters into a site agreement with the operator of a community ceases to be entitled to rescind an agreement under this section if the person starts to reside in a home located on the residential site, or causes a home to be placed, installed or erected on the residential site, before the end of the cooling-off period. > > > (7) Subsection (6) does not apply to a person who is an existing home owner when the site agreement is entered into (being a person who is currently, or has previously been, a party to a site agreement relating to the residential site). > > > (8) In this section, a collateral agreement includes a contract for sale of a home on the site, if the seller is the operator of the community.