Signed a real estate lease one day ago. In the lease there is a page on attorney review which we also signed. Can I get out of lease agreement before the 3 day AR period expires? If so, is simply advising the owner that we have decided to terminate sufficient? This is in NJ.
2 Answers from Attorneys
The answer to your question is that in the State of NJ there is no right of rescission for leases; however, if there is language in the lease providing for a 3 day right of rescission then the language contained in the document prevails. You must advise the owner in writing of your decision to rescind and I would suggest that you do it in a way that you will have proof of mailing and receipt such as overnight mail. If you have provided security and/or advance rent you should demand return of same in the notice of cancellation. This information should not be relied upon as legal advice as it is possible that i do not have all the facts.
To that I would add that if the agreement provides for rejection of the lease based on an attorney review, you must have an attorney review it. You cannot simply cancel the contract by yourself on the theory that an attorney could have reviewed it.
See also: http://info.corbettlaw.net/lawguru.htm