Tennessee Realtor State Practice Exam

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Prepare for the Tennessee Realtor State Exam with questions and explanations designed to help you succeed. Master the principles and regulations of real estate in Tennessee. Ace your exam with confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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How many days does a buyer have to cancel a timeshare contract in Tennessee?

7 days
10 days
15 days
30 days

The correct answer is: 15 days

In Tennessee, the law allows a buyer of a timeshare contract to cancel the agreement within 15 days of signing the contract. This timeframe is designed to provide buyers with an opportunity to reconsider their purchase, ensuring that they have adequate time to review all associated obligations and benefits of the timeshare. The 15-day period is crucial for consumer protection, giving individuals the right to back out without penalty if they feel the contract does not meet their expectations or needs after more reflection. Understanding this timeframe is essential for both buyers and realtors, as it affects the sales process and the buyer's rights under Tennessee law.