Legal Question in Real Estate Law in Florida

Right To Rescind

When signing a purchase agreement for property in the state of Florida should there be a document that explains that the purchaser has a certain number of days to back out of the agreement?

Asked on 9/04/07, 11:35 pm

2 Answers from Attorneys

Johm Smith tom's

Re: Right To Rescind

There is no statutory right to have a clause like this; you would have to negotiate for it.

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Answered on 9/05/07, 11:47 am

Scott R. Jay Law Offices of Scott R. Jay

Re: Right To Rescind

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

There is no requirement to have such a clause and it would not be common. It should only be included if that is what the parties bargained for and agreed to.

Scott R. Jay, Esq.

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Answered on 9/05/07, 12:24 am

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