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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 41220
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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Is there a period of time, after signing a contract, in which

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Is there a period of time, after signing a contract, in which a change of mind is allowed? The contract is between a rental house owner and a licensed real estate broker and concerns the management of the rental.
Submitted: 4 years ago.
Category: Legal
Expert:  Dimitry K., Esq. replied 4 years ago.
Thank you for your question.

I am afraid that this "automatic right of rescission" is common myth. There are some types of contracts that are statutorily (that is, based on state law) are required to have an automatic right of rescission (for example home purchases and time share purchases) but otherwise unless the contract itself directly gives the party the right to cancel, it is valid as written. If the contract in this case had no early termination clause, only if both parties agree to cancel would the contract be voided.

Good luck.
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