Last reviewed 10-31-2026Short-Sale.com Editorialglossary
Recission
California Association of Realtors
Updated 10-31-2026
Recission
The cancellation of a contract by putting all parties back to the position before they entered the contract. In some mortgage financing situations involving equity in the home as security, the law gives the homeowner three days to cancel a contract.
California Association of Realtors Glossary
California Association of Realtors · p. 11
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