Final answer:
When the notice of the seller-in-foreclosure's cancellation rights is properly contained in the EP agreement, the seller's cancellation period ends when the notice is given to the other party.
Step-by-step explanation:
The notice of the seller-in-foreclosure's cancellation rights refers to the rights of a seller who is facing foreclosure to cancel an agreement.
In the EP agreement, if the notice of the seller's cancellation rights is properly contained, then the seller's cancellation period ends when the notice is given to the other party.
This means that once the seller provides written notice of cancellation, the agreement is terminated and both parties are released from their obligations.
An example of a cancellation period ending is when a seller has included a cancellation clause in the agreement stating that if the foreclosure process is initiated, the seller has the right to cancel the agreement with a written notice to the buyer. Once the buyer receives the notice, the seller's cancellation period ends and the agreement is no longer in effect.