Loan application in his name. He is married. Property is in his name only. Doesn't spouse sign to waive homestead and also get copy of the Notice of Right to Cancel? In state of Illinois, not community property state.

So what if "he" lived with someone and they were not married, shouldn't anyone who lived there as their primary residence have the right to cancel? So wouldn't the community property thing not matter as far as someone having those rights?

For the right of rescission to apply under Regulation Z, two things have to be in place. One - it is the person's primary residence. Two - they have an ownership interest in the property.

To sue's mom's question - no right of rescission would be required under Regulation Z. However, I am not familiar with IL State law and it may require a right of rescission from a spouse or it may require the spouse to sign some sort of homestead waiver to ensure validity of the lien.

Sue's Mom, if you haven't done so you should post this in the IL forum. I can't speak for IL but IN does not have dower rights for spouses, however if I'm not mistaken KY does so this would be state specific.

Compliance41704, dower rights, homestead rights, or whatever they may be called in your specific state generally only apply to spouses. I'm not saying they may not exist in some states but I have not seen where a non-spouse had these rights. Again it would be state specific.