32AOptions

32A Options (1) A person who holds an option to purchase from an owner resident of a retirement village any premises of that owner resident, must decide whether or not to exercise the option, and that person must give the owner resident written notification of that decision not more than 28 days after the owner resident notifies the person, in writing, that the premises are for sale. (2) If a person who holds such an option does not give the notification required by subsection (1) within the time required by the subsection, the option lapses. (3) This section has effect despite any term in the option. S. 32B inserted by No. 4/2005 s. 10.