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    jsheppi's Avatar
    jsheppi Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 1, 2008, 07:50 PM
    Lease option/backing out
    I recently signed a lease with the option to purchase agreement with a tenant. It has been 2 days and he wants to back out of this agreement. Is there a cooling off period or recission period for leases in Nevada? I believe that I can hold him responsible for the lease/option. He gave me a check for deposit for the optionllease and now is putting a stop payment on the check. What can I do?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jan 1, 2008, 07:55 PM
    The right of recission may apply here. That right is federal law, and the Fed statute refers to real estate loans, so this may qualify. I wouldn't test it.
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