<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by lauralee:
I am thinking of moving into an apart-
ment in the very near future. I've
heard that there's a 3-day "turn-around" grace period as far as
signing a rental agreement contract is
concerned. Is this true in every
state? I live in North Carolina.
Thanks!<HR></BLOCKQUOTE>
My response:
I believe you may be thinking about North Carolina's "Home Solicitation" laws. Those laws, reprinted below, have nothing to do with signing a lease contract for an apartment - - in other words, when you sign an apartment lease, it's yours and there's no crossed fingers, no King's X, and no time-out's.
North Carolina Statutes:
§ 25A-38. "Home-solicitation sale" defined.
"Home-solicitation sale" means a consumer credit sale of goods or services in which the seller or a person acting for him engages in a personal solicitation of the sale at a residence of the buyer and the buyer's agreement or offer to purchase is there given to the seller or a person acting for him. It does not include
(1) A sale made to a buyer who has previously engaged in a similar business transaction with the seller;
(2) A sale made pursuant to a preexisting revolving charge account;
(3) A sale made pursuant to negotiations between the parties on the premises of a business establishment at a fixed location where such goods or services are offered or exhibited for sale;
(4) A sale which is regulated by the provisions of Section 226.9 of Regulation Z promulgated pursuant to Section 105 of the Consumer Credit protection Act; or
(5) Sales of personal wearing apparel, motor vehicles defined in G.S. 20-286(10), farm equipment and goods and services to be utilized within 10 days in connection with funeral services.(1971, c. 796, s. 1; 1973, c. 672.)
§ 25A-39. Buyer's right to cancel.
(a) Except as provided in subsection (e) of this section, in addition to any right otherwise to revoke an offer, the buyer has the right to cancel a home-solicitation sale until midnight of the third business day after the day on which the buyer signs an agreement or offer to purchase which complies with G.S. 25A-40, or which complies with the requirements of the Federal Trade Commission Trade
Regulation Rule Concerning a Cooling-Off Period for Door-to-Door Sales.
(b) Cancellation occurs when the buyer gives written notice of cancellation to the seller at the address stated in the agreement or offer to purchase.
(c) Notice of cancellation, if given by mail, is given when it is deposited in the United States mail properly addressed and postage prepaid.
(d) Unless the seller complies with G.S. 25A-40(b), notice of cancellation given by the buyer need not take a
particular form and is sufficient if it indicates by any form of written expression the intention of the buyer not to
be bound by the home-solicitation sale.
(e) The buyer may not cancel a home-solicitation sale if the buyer requests the seller in a separate writing to
provide goods or services without delay because of an urgency or an emergency, and
(1) The seller in good faith makes a substantial beginning of performance of the contract before the buyer gives notification of cancellation,
(2) In the case of goods, the goods cannot be returned to the seller in substantially as good condition as when received by the buyer, and
(3) Unless the buyer returns the goods, if any, to the seller at his expense.
(f) A buyer, who has not received delivery of the goods and services from the seller in a home-solicitation sale within 30 days following the execution of the contract (and such delay is the fault of the seller), shall have the right at any time thereafter before acceptance of the goods and services to rescind the contract and to receive a refund of all payments made and to a return of all goods traded in
to the seller on account of or in contemplation of such contract, or if the goods traded in cannot or are not
returned to the buyer within 10 days after cancellation, the buyer may elect to recover an amount equal to the trade-in
allowance stated in the contract. By written agreement, the buyer may agree to a later time for the delivery of goods
and services.(1971, c. 796, s. 1; 1975, c. 805, s. 1.)
§ 25A-40. Form of agreement or offer; statement of buyer's rights.
(a) In a home-solicitation sale the seller must present to the buyer and obtain his signature to a fully
completed written agreement or offer to purchase which is in the same language as that principally used in the oral sales
presentation and which designates as the date of the transaction the date on which the buyer actually signs and which contains the name and address of the seller, and which contains in immediate proximity to the space reserved for the signature of the buyer in bold face type of a minimum
size of 10 points, a statement in substantially the following form:
"You, the buyer, may cancel this transaction at any time prior to midnight of the third business day after the date of this transaction. See the attached Notice of Cancellation form for an explanation of this right."
(b) The seller must, in addition to furnishing the buyer with a copy of the contract or offer to purchase, furnish to the buyer at the time he signs the home-solicitation sale contract or otherwise agrees to buy consumer goods or services from the seller, a completed form
in duplicate, captioned "Notice of Cancellation," which shall be attached to the contract and easily detachable, and
which shall contain in 10 point bold face type the following information and statements in the same language as that used
in the contract:
"Notice of Cancellation
(enter date of transaction)
………….........................
(date)
You may cancel this transaction, without any penalty or obligation, within three business days from the above date.
If you cancel, any property traded in, and payments made by you under the contract or sale, and any negotiable instrument executed by you will be returned within 10 business days following receipt by the seller of your cancellation notice, and any security interest arising out of the transaction will be canceled.
If you cancel, you must make available to the seller at your residence, in substantially as good condition as when received, any goods delivered to you under this contract or sale; or you may, if you wish, comply with the instructions of the seller regarding the return shipment of the goods at the seller's expense and risk.
If you do make the goods available to the seller and the seller does not pick them up within 20 days of the date of your notice of cancellation, you may retain or dispose of the goods without any further obligation. If you fail to make the goods available to the seller, or if you agree to return the goods to the seller and fail to do so, then you remain liable for performance of all obligations under the contract.
To cancel this transaction, mail or deliver a signed and dated copy of this cancellation notice or any other written notice, or send a telegram to………………….,
(name of seller)
at
............................……………………………………………………….........
.............,
(address of seller's place of business) not later than midnight of
...............……………………….…………………................
(date)
I hereby cancel this transaction.
.......................…….…...............
(date)
…….……………..
(Buyer's Signature)”
(1971, c. 796, s. 1; 1975
