This precedent is a letter to the vendor client of a conveyancing matter informing the client that the purchaser’s representative has served a notice of rescission on the client rescinding the contract during the cooling off period. Section 66U of the Conveyancing Act 1919 (NSW) provides for rescission of a contract during the cooling off period. Section 66U requires the notice to be signed by: · the purchaser or their solicitor; or · if there is more than one purchaser, each of the purchasers or their respective solicitors. Under section 66U, the notice must be served on: · the vendor or their solicitor; · if there is more than one vendor, any one of the vendors or any of their solicitors; or |
the agent of the vendor or vendors.
This precedent has been authored for LexisNexis by Emma Heuston, Principal Lawyer, Legal Vision.