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No, only Primary residences can carry a recission period in certain instances.
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∙ 15y ago
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Recission period for buying a condo Maryland?
A local realtor can answer your question.
Does the state of Michigan have a 3 day recission on refinancing a home law?
Yes
Does a promissory note have to have a 3 day recission to be legal?
If you are asking does it have the same thing as a "cooling off period" as for an installment purchse? No.
Your lender cancelled your loan after you signed the documents during the recission period is this legal?
It is so long as he does it before he he gives you anything.
Does California have a 3 day right of recission Law?
Does the 3 day recission pertain to furniture?
What is the Indiana right of recission for used cars?
There is none.
Does Ohio have a right of recission law?
Yes Ohio does have a 3 day right of recission law for certain transactions. The purchase of a motor vehicle does not fall under this law.
What are the causes of recission?
i act dont know..ask the god
What is the law on right of rescission in Michigan?
There is NO right of recission for autos.
Does Florida have a 3 day right of recission rule on auto loans?
right to recission when actual signing of documents don't take place at the business and product cost is over $25.00.
Does Ohio have a 3 day recission law on the purchase of a motorcycle?
yes it does
Is there a 72 hour change of mind when leasing a car in Indiana?
Probably not.For reasons that aren't entirely clear to me, a lot of people think there's an automatic 3-day "grace period" on car purchases. This is NOT true for new cars in ANY state.Some states do have laws that require used car sales to have a right of recission period.Some states have laws requiring dealers to offer buyers the option to purchase a recission period in some cases.There's no law that says a dealer can't put a clause allowing a recission period in the contract if they want to do so, or can't offer the option to purchase one even if the law doesn't specifically require them to. But this is up to the individual dealer.If you've already leased the car, check the contract. It should state in unambiguous terms whether or not there's a recission period and if so how long it is. If there is one, it should also detail the terms: you may be required to pay a prorated amount and possibly also a penalty of some kind or another.If you haven't leased it yet, ask the dealer. If he says there is one, get him to put it in writing in the contract.Otherwise, you should plan on the answer being "no."
