Legal Question in Real Estate Law in New York
Cancelling Apartment Contract
I signed an agreement to sublease an apt in NYC, and gave the landlord and broker checks to cover 2 months rent. Within 24 hours, I changed my mind, stopped payment on the checks, and notified the broker via email and voicemail. Am I still obligated to pay, or was I within the timeframe to recind my offer to lease the apt.
1 Answer from Attorneys
Re: Cancelling Apartment Contract
You entered a sublease with the owner? Do you mean the tenant?
If it was the owner then it was not a sublease, it was a lease. If this is a rent stabilized apt., then the owner was probably trying to get around rent increases laws which limit increases so the lease would be void.
In any other case:
If the lease was signed by the owner/overtenant you are too late to get your money back. trhere may be an out if you have not moved into the apt. The broker is still entitled to the fee however.
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