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    Rescission Rights Complaints


    Rescission rights are also known as “cooling-off,” or cancellation, periods. Colorado law allows specific transactions to be rescinded. Please note: Vehicle purchases do not come with a rescission or cancellation policy. The law provides different rescission periods for specific contracts. Refer to the information below to determine which transactions have a rescission period and the corresponding duration allowed by law.

    One-Day Right of Rescission

    • Membership buyer-club contracts. Please see Colorado Revised Statute 6-1-105-(bb)(1).
    • Donations of goods, Colorado Revised Statute 6-16-106.
      • Refer to the statutes by accessing the Colorado General Assembly website, View exit disclaimer policy page for links to third-party websites. select the “Statutes and Session Law” link in the left navigation field, then "Colorado Revised Statutes and Constitution.”

     

    Three-Day Right of Rescission

    • Door-to-door sales (see Door-to-Door Sales)
    • Any solicitation credit transaction involving four or more payments (excluding the down payment) made at your home that does not involve a credit card. Your legal rights can be found in Colorado Revised Statutes 5-2-501-5 and 5-2-104 and 5-1-301(12). Any credit transaction that could result in a lien being placed on your home comes with a three-day cancellation period (home improvement repairs). See the Uniform Commercial Credit Code Loan information in Colorado Revised Statutes 5-5-204.
    • All health club contracts are covered in Colorado Revised Statutes 6-1-105 (t)(I).
    • Pledges of cash or purchases made to benefit a nonprofit organization. The rescission period begins within three days of receiving written confirmation of the contribution from the charity.
    • Telemarketing contracts
    • Refer to the statutes by accessing the Colorado General Assembly website, View exit disclaimer policy page for links to third-party websites. select the “Statutes and Session Law” link in the left navigation field, then "Colorado Revised Statutes and Constitution.”

     

    Five-Day Right of Rescission

    • Credit repair contracts are covered in Colorado Revised Statutes 12-1405-108(2).
    • Timeshare or interval ownership contract information is found in Colorado Revised Statutes 6-1-105 (s)(II).
      • Refer to the statutes by accessing the Colorado General Assembly website, View exit disclaimer policy page for links to third-party websites. select  the “Statutes and Session Law” link in the left navigation field, then "Colorado Revised Statutes and Constitution.”

     

    30-Day Right of Rescission





    Last Updated: 7-24-2013
  • The filing of a criminal charge is merely a formal accusation that an individual has committed a crime(s).
    A defendant is presumed innocent until and unless proven guilty. See Colo. RPC 3.6.