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CONVEYANCING ACT 1919 - SECT 66U
Cooling off rights
66U Cooling off rights
(1) The purchaser under a contract for the sale of residential property may
serve a written notice to the effect that the purchaser rescinds the contract.
(2) The notice may only be served during the cooling off period, but is
ineffective if served after completion.
(3) The notice of rescission must be
signed by-- (a) the purchaser or the purchaser's solicitor, or
(b) if there
is more than one purchaser, each of the purchasers or their respective
solicitors.
(4) The notice of rescission must be served on-- (a) the vendor
or the vendor's solicitor, or
(b) if there is more than one vendor, any one
of the vendors or the solicitor of any of them, or
(c) the agent of the
vendor or vendors.
(5) Service of a notice under this section may be effected
in accordance with section 170 or at the address of the vendor shown in the
contract or in accordance with the service provisions in the contract.
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