How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Tina Your Own Question
Tina
Tina, Lawyer
Category: Legal
Satisfied Customers: 33167
Experience:  JD, BBA Over 25 years legal and business experience.
4460311
Type Your Legal Question Here...
Tina is online now
A new question is answered every 9 seconds

I signed a contract to rent my house yesterday, but now am

This answer was rated:

I signed a contract to rent my house yesterday, but now am having seconds thoughts. Does the 72 hour right of recision apply in the state of Georgia for this type of contract?

Hello and welcome.

My name is XXXXX XXXXX my goal is to provide you with excellent service today. Before I can give you an accurate answer to your question, please provide the following additional information:

What is your reason for wanting to rescind the contract? When is the tenant scheduled to move in?

I look forward to assisting you as soon as I have received this information. Thank you.

Customer: replied 3 years ago.
I think I might have a buyer for the property . I had rather sell than lease. They are scheduled to move in 6/29/13
I see. Thank you for providing this additional information, Bruce.

Few types of contract are subject to state rescission laws and lease agreement are not one of them unfortunately, unless there is a provision in the lease permitting the parties to rescind it within a certain period of time.

However, since you just signed the contract yesterday, the tenant's damages would typically be limited if you informed them of your intend to terminate the lease right away. If they are unable to reasonably locate a property of a similar value by the move-in date, they could potentially sue for the difference in rent due to your breach of the agreement.

Because of the potential for damages, if you really wish to terminate the lease, it would normally be best to offer them a sum of money in return for them signing a release of claims for you, which is basically an agreement to accept the money you offer in settlement of any claims they might have against you, so they could not sue you for damages.

It may be worth contacting them to see whether they might agree to this arrangement if you do wish to be released from your contractual obligations under the lease.

Here is a link to the state governor's website which summarizes which types of contracts are subject to a cooling off period in the state of GA:

http://ocp.ga.gov/consumer-topics/canceling-a-contract

I hope this helps clarify the situation for you. Please remember to rate my service once you have all the information you need so I will be compensated for my time from the deposit you posted with this website. If you have any other questions, please ask me – I’ll be happy to respond. Thank you!

Tina
Tina and 6 other Legal Specialists are ready to help you
Customer: replied 3 years ago.
Many thanks, Bruce

You are very welcome, Bruce, and good luck to you.

Please remember to rate my service once you have all the information you need so I will be compensated for my time from the deposit you posted with this website. Thank you!

Tina