Is there right to cancel a lease within 24 hours of signing it?
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Is there right to cancel a lease within 24 hours of signing it?
My daughter signed a rental agreement for a trailer and they have paid the deposit but have not moved in – signed the agreement yesterday – is there a law there gives her 24 hrs or more to terminate said agreement allowing the landlord to keep the deposit but allowing her to get out of the lease.
Asked on November 6, 2010 under Real Estate Law, Georgia
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
What you are thinking about here is called a "3-day right of rescission". This is a legal tool which provides consumers with the right to cancel contracts that they have entered into within 72 hours. However, this right of rescission is uncommon. Typically, i only applies to a few types of transactions and, unfortunately for you, lease agreements are not among them. Therefore you are bound by the terms of a lease once it has been signed. A contract is a contract. Still, see what you can work out with your landlord. It may be willing to agree to an alternative arrangement.
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