CanI cancela lease that I signedthe next day?
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CanI cancela lease that I signedthe next day?
I am the landlord and to want to cancel the lease that I signed last night. I talked to my agent and she hasn’t sent over the paperwork.
Asked on July 11, 2011 under Real Estate Law, New Jersey
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
A "right of rescission" is a legal tool which provides consumers with the right to cancel contracts that they have entered into within 72 hours of doing so. As a general rule however, it only applies to a few types of transactions and lease agreements are not typically among them. That having been said my research suggests that in NJ both the tenant and landlord then have 3 business days in which to cancel the lease. This is also called "attorney review". You put a call into a real estate attorney in your area to confirm this.
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