Frequently Asked Questions...
In Minnesota, can you back out of a lease that was just signed?
Is there such a thing as a 24 hour right to change your mind on either party? Situation is that house was for sale and was not selling so we rented house and signed lease at 11 am today. At 2 pm the realtor called and there is an offer coming in. Do I have any recourse to get out of this lease?? One more thing, the lease had my husband and I as landlords but he failed to sign the document....does that negate the lease?
Answer:
No. The lease is valid if one or both of you signed. There is no "cooling off" period for rental leases. Either go through with the sale and let the new owners know they will be inheriting a tenant or buy out the lease from your tenants. Offer 2 months rent plus their security deposit back.
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