How many days does a prospective buyer have to rescind a timeshare sale?

A prospective buyer has a window of five days to rescind a timeshare sale in North Carolina. This timeframe is established to protect consumers, giving them sufficient opportunity to reconsider their purchase decision after the sale. This mandatory cooling-off period is intended to ensure that buyers have the chance to evaluate the commitment they are making, especially given the complexities and long-term implications associated with timeshare ownership. Buyers must provide written notice of their intent to rescind to the seller or the seller's agent within this five-day period for the rescission to be valid. This statutory requirement helps maintain fairness in real estate transactions involving timeshares and reinforces consumer rights.