Here's the Reg Z link https://www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1026/23/#:~:targetText=If%20the%20required%20notice%20or,the%20property%2C%20whichever%20occurs%20first.
This paragraph
"(1) Notice of right to rescind. In a transaction subject to rescission, a creditor shall deliver two copies of the notice of the right to rescind to each consumer entitled to rescind (one copy to each if the notice is delivered in electronic form in accordance with the consumer consent and other applicable provisions of the E-Sign Act). "
BTW - if not delivered properly? "If the required notice or material disclosures are not delivered, the right to rescind shall expire 3 years after consummation, upon transfer of all of the consumer's interest in the property, or upon sale of the property, whichever occurs first."
Many a foreclosure has taken place when the consumer has not paid their mortgage and relied on this "failure to deliver" clause.
I always left two **signed** copies per signer/party in interest. |
