Is there a residential lease rescission period?

Asked on September 9, 2011 under Real Estate Law, Michigan


M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

What you are referring to here is what is known as a "3-day right of rescission". This is a legal tool which provides consumers with the right to cancel contracts that they have entered into within 72 hours.  Although, as a general rule, it applies only to a few types of transactions. Unfortunately residential lease agreements are not among them. Accordingly, a tenant is bound by the terms of a lease once it has been signed. A contract is a contract. See what you and your landlord can work out. 

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