Posted by River City on February 28, 2005 at 07:14:22:
You can find right of rescission in the Truth in Lending Act. The right of rescission does not apply to purchase transactions. It only applies to refinance transactions of a borrower’s primary residence.
Does the federal law of right of rescission apply to a real estate contract. In other words, if I’m a seller and I sign a contract with a buyer but then change my mind within three days can I use the right of rescision? You probably know this one easily - but none of my contacts in the real estate business knew!! Thanks!