Section 21 – Voidable agreements.

• (1) Any agreement to purchase an interest in a development that violates Section 57-19-4 or 57-19-14 may, at the option of the purchaser, be voided and the purchaser’s entire consideration recovered together with interest at the legal rate, costs, and reasonable attorney fees.

• (2) No suit under this section may be brought more than two years after the later of:
  • (a) the day on which the agreement is signed; or
  • (b) the day on which the purchaser knew or reasonably should have known of the violation.

Amended by Chapter 255, 2016 General Session