Legal Question in Real Estate Law in Utah
If a contract is signed for a business and real estate, how long does the seller have to back out of the sale?
Asked on 2/02/12, 6:22 am
1 Answer from Attorneys
Based on the information you have provided, you need to look at the written contract. If there is a provision regarding a right of rescission that will control and should include a time period to exercise that right. If there is no such provision then there is no right to back our of a sale. If there is no written contract then the contract is arguably of no legal effect, but that also depends on all the circumstances.
It would be best to see an attorney in your area in person.
Answered on 2/02/12, 11:30 am