It’s perhaps an unexpected turn in Katy Perry’s career, but the pop star, more commonly known for chart-toppers like “I Kissed A Girl”, recently found herself making headlines in the legal world. Not for her music, though, but as the namesake of proposed legislation aiming to protect senior citizens from potentially exploitative real estate transactions. The Protecting Elderly Realty for Retirement Years Act, or PERRY Act, mandates a 72-hour “cool-down” period for real estate deals involving parties aged 75 years or older. The report came via
TODAY.
The origins of this proposed Act’s name could be traced to a case involving Perry herself. Perry found herself embroiled in legal proceedings with an elderly individual, Mr. Westcott, who claimed he was in an “unsound mind” when he agreed to a real estate deal with Perry and another party, Gudvi. Westcott’s lawyers argued that the contract was “voidable”, given he was
under the influence of painkillers from a recent surgery when he signed the agreement. The legal fight is detailed in a report by
The Real Deal.
The PERRY Act would represent a notable shift in legal understanding and handling of real estate contracts; a move away from the days of caveat venditor toward a system that acknowledges the role of individual consent, situational context, and
the ability to say no. The Act seems to echo the law’s changing perspectives on consent, reminiscent of the case of Lucy v. Zehmer where the validity of a contract signed under the influence of alcohol was upheld by Virginia’s Supreme Court.
However, such changes could be timely and much needed. Reports suggest that elder exploitation, particularly in real estate, is increasing with time. A mandated three-day waiting period for individuals over the age of 75 participating in a property deal, as proposed by the PERRY Act, might indeed prove highly beneficial.
Full information on this story can be found in the original reporting from
Above the Law.