With a new apartment lease, does the tenant have a window of time in which to change his mind and cancel the lease without penalty?
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With a new apartment lease, does the tenant have a window of time in which to change his mind and cancel the lease without penalty?
Asked on July 19, 2012 under Real Estate Law, Alabama
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
No, unfortunately, there is no "cooling off" or rescission period on a lease (the way there is, for example, on a mortgage). Once you sign the lease, you are obligated to it. The landlord can hold you liable for the rent for the full term of the lease (or until he/she re-rents the premises, whichever comes first).
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