When does the 3-day right of cancellation begin/end?

 

While the NVAR Residential Sales Contract calculates “Days” as ending at 9 p.m. on the number of days specified following Delivery, this does not apply to the statutory three-day right of rescission period provided in the Virginia Resale Disclosure Act (VA Code § 55.1-2307 et seq).  

The Resale Disclosure Act defines “Days” as “calendar days”, which begin/end following a 24-hour period. Additionally, § 1-210 of the Virginia Code states that when a statue requires an act be performed within a prescribed amount of time after any event, the day on which the event occurred shall not be counted against the time allowed. 

Therefore, the three-day period begins on the day AFTER delivery of the packet. For example, if the packet is delivered on Monday night at 10:00 PM, day 1 begins Tuesday at 12:01 AM. The notice of cancellation would need to be delivered on or before Thursday at 11:59PM.  

Commercial Council