Taylor Swift is about to rerecord her first five albums, and fans can't contain the excitement online.

A big moment in Taylor Swift's music career has finally arrived.

The Grammy-winning singer can finally rerecord her first five albums: Taylor Swift, Fearless, Speak Now, Red, and 1989.

The good news? She'll take full ownership of the songs as her contract with Big Machine Records just ended.

Speaking to Good Morning America last year, Swift said:

My contract says that starting November 2020… I can record albums one through five all over again.

I'm very excited about it. I just think that artists deserve to own their own work. I just feel very passionately about that.

Swift left the Big Machine Records in 2018.

She signed with the label in 2005 when she was just 15 years old. And the terms of her deal gave the Big Machine the rights to her recordings—this is a common practice in the music industry.

However, Swift claims she has tried to repurchase the right to her music over the years since she joined the label.

But Big Machine founder Scott Borchetta claimed they had negotiated terms for Swift to purchase her masters, which she later declined.

Soon after Swift said the label's deal 'grossed' her, Borchetta responded with his own statement on the label's website. He accused Swift of bending the truth.

Borchetta also claimed the deal they offered Swift gave her '100 percent of all Taylor Swift assets.'

However, Swift's lawyer Donald Passman told Variety in a statement:

Scott Borchetta never gave Taylor Swift an opportunity to purchase her masters or the label.

Another source also told the outlet that Swift had to sign a deal that would bind her to Big Machine or its new owner for another 10 years for her to buy her original masters.

Swift spoke out against the deal on Tumblr at the time, writing:

All I could think about was the incessant, manipulative bullying I've received at [their] hands for years.

She also promised fans that soon she would be able to rerecord her albums despite not owning the original masters.

Now that November is here, Swift fans are rejoicing so much that #TaylorIsFree is trending on Twitter.

One fan gushed:

It's officially November, which means Taylor can start rerecording her first five albums this MONTH. TAYLOR IS FREE.

Another said:

Finally, it's November 2020.

While another staunch fan wrote:

NOVEMBER IS HERE! This is the month I've been most looking forward to since like July/August last year. I'm so excited!!!

Taylor can re-record. TAYLOR IS FREE.