Can I cancel my lease agreement within 24 hours?

Full question:

i signed a lease for a rental apartment today and exchanged money already (in Gwinette County Georgia)....can i get out of this lease agreement since its within 24 hours?

Answer:

Generally, you cannot cancel a lease agreement simply because you changed your mind. To terminate the lease, you would need a valid reason under the lease terms, a clause that allows for early termination, or the landlord's consent. Buyer’s remorse alone does not qualify as a valid reason.

In legal terms, rescission is the process that cancels the obligations of both parties in a contract. For rescission to occur, both parties must return to their original positions before the contract was signed. Courts may allow rescission for reasons such as fraud, incapacity, duress, undue influence, material breach, or mistakes.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Typically, you cannot back out of a lease simply because you've changed your mind. Most leases do not have a cooling-off period. You would need a valid reason, such as a specific clause in the lease or the landlord's agreement, to terminate the lease.

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