Legal Question in Real Estate Law in Arizona

real property, real estate

Massachusetts does not allow a "cooling off" period, or "right of recission" period.

I do not know about your particular state.

If you want to get out of the contract, I suggestthat you call as soon as possible so that they do not rely upon your acceptance of it for any lenght oof time. The shorter the time, the less damages theymay incur, and the more receptive they may be to releasing you from your obligations under the document.

Alan

Is There A Grace Period to Break a Lease?

Not in Georgia. Probably not in AZ, either. However, contact a local attorney. The 3 days you refer to only exists where a consumer wishes to avoid a residential sales contract that was signed in the home. e.g., vinyl siding saleman drops by and sells you $10,000 of vinyl siding in your home. Under federal law, the consumer has 3 days to think about that type of contract, but, generally, no others.

In GA, if you sign it and you were not under duress at the time, you are stuck with it. Look to see if there is an early termination clause. Sometimes they exist, but are expensive. 1/4 of the value of the lease.

Hugh Wood

Doubtful you can rescind, but check with a local lawyer!

BUT there is a kind of general rule of law that a landlord 'damaged' by your breaking of the contract has a duty to mitigate (required to make the 'damages' as low as he can) which translates to rent the place to someone else as soon as he can and at as high a rent as he can. Most landlords do this out of just common sense: it's always better to have a renter than to chase someone else for money. If Landlord's unable to match your rent in the same month, you would theoretically only be stuck with the difference between what he could get and what he was going to get from you, plus perhaps in some states some amount for having had to go find another tenant.

I agree with someone else: tell landlord as soon as you're sure. Call him up, but also make a legal record of it: call a constable or sheriff and have them deliver the same message in writing; the $40 or so that usually will cost you is well worth it.

I agree with the someone else who said that the 3 day or 5 day right to change your mind usually applies to sales of a door-to-door saleman nature where the contract was signed in your home (with a huge burly man standing over you!).