Definition of "Rescind"

Traian Pircalabu
Traian Pircalabu The K Company

Canceling, nullifying, terminating, or dishonoring a contractual obligation. The Truth-in-Lending Act provides the right of rescission whereby a person can annul a contract without penalties, or refunding deposits. Contracts may also be terminated for fraud or improper execution. For example, a minor may rescind a real estate contract with no penalties.

Search Real Estate Glossary

Related Real Estate Glossary terms

Related Real Estate FAQ