The initiative known as Perry Law, formally called Perry Protecting Realty For Retirement Years Actseeks to give the elderly a period of reflection when performing real estate transactions, similar to what happened between an 85 -year -old veteran and singer Katy Perry.
The proposal arose in 2023, with the interest of avoiding financial abuses towards older people during real estate transactions. Although it has not yet been officially discussed in the US Congress, it has once again taken relevance for a rumor indicating its promulgation.
The project establishes that persons over 75 whose contracts or agreements are signed, have a “72 -hour reflection period” to cancel these contracts without penalty, making special emphasis on those with vulnerable medical conditions.
The best known case related to this problem was that of Katy Perry, who evicted Carl Westcott, an 85 -year -old veteran who sold her valued mansion in 15 million dollars for approximately 11.25 million.
Westcott tried to revoke the agreement shortly after the firm, arguing that it had been under the effect of analgesics after recent surgery. This was stated by his lawyer in a complaint made in 2020: “The combination of his age, the fragility of his back and recent surgery, along with the opiates he consumed, led Mr. Westcott not to be in adequate mental conditions.”
Katy Perry representatives, on the other hand, did not terminate the contract; He was notified later days that he had to vacate the house or would be evicted.
Finally, in November 2023, after a long legal battle, Judge Joseph Lipner determined that the purchase of the property in Montecito, California, was valid. The magistrate assured that there was no “credible evidence” that Westcott was not in a position to close the agreement: “Westcott signed other contracts before and after the aforementioned contract. He has not tried to terminate any of those other agreements for disability.”
