Purchaser's right to cancel
- Statute:
- Louisiana §9:1124.106 · Part CONDO (Louisiana Condominium Act (La. R.S. 9:1121.101 et seq.))
- Topic:
- Member Rights · Cancellation
- Applies to:
- Condo associations
Unless the purchaser gets the public offering statement more than 15 days before signing, the purchaser may cancel without penalty within 15 days after first receiving it, by hand delivery or prepaid mail, and get a prompt refund. A post-closing damages claim for a materially false statement generally prescribes one year after closing or occupancy-ready completion, and in any event five years after closing.
📄 Read the official text at legis.la.gov →
How SoShiny helps with Purchaser's right to cancel
SoShiny tracks every member, owner, and renter at the unit level with the contact details and access rights this statute protects. Privacy-respecting by default, with statutory directory disclosures and opt-outs handled per-member.
See the feature → Start freeFrequently asked
- What does Louisiana §9:1124.106 require?
- Unless the purchaser gets the public offering statement more than 15 days before signing, the purchaser may cancel without penalty within 15 days after first receiving it, by hand delivery or prepaid mail, and get a prompt refund. A post-closing damages claim for a materially false statement generally prescribes one year after closing or occupancy-ready completion, and in any event five years after closing.
- Who does Louisiana §9:1124.106 apply to?
- Louisiana §9:1124.106 applies to Condo associations in Louisiana.
- What happens if our condo doesn't comply with §9:1124.106?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for Louisiana community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of Louisiana §9:1124.106?
- The official text is published by the Louisiana State Legislature at legis.la.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Purchaser's right to cancel?
- SoShiny tracks every member, owner, and renter at the unit level with the contact details and access rights this statute protects. Privacy-respecting by default, with statutory directory disclosures and opt-outs handled per-member. Learn more →
Not legal advice. This page is a plain-English summary of Louisiana §9:1124.106 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a Louisiana-licensed attorney. For the official statutory text, see the link above.
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