Section 480E-5 - Cancellation of a distressed property consultant contract(a) In addition to any other legal right to rescind a contract, any distressed property owner has the right to cancel a distressed property consultant contract, without any penalty or obligation, at any time before the distressed property consultant has fully performed each and every service the distressed property consultant contracted to perform or represented would be performed.(b) Cancellation occurs when any distressed property owner delivers, by any means, written notice of cancellation to the address specified in the distressed property consultant contract.(c) Notice of cancellation, if given by mail, is effective when deposited in the mail with postage prepaid. Notice by certified mail, return receipt requested, addressed to the address specified in the distressed property consultant contract, shall be conclusive proof of notice of cancellation.(d) Notice of cancellation given by any distressed property owner need not take the particular form as provided with the distressed property consultant contract and, however expressed, is effective if it indicates the intention of the distressed property owner not to be bound by the contract.Amended by L 2016, c 142,§ 6, eff. 6/29/2016. L 2008, c 137, pt of §2 .