Answer:
The right of rescission is not applicable is not applicable.
First published on BankersOnline.com 1/9/06
Right of Rescission on Home Owned By LLC
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Question:
We have a loan request for a real estate loan to be made to two individuals who live in the home, however, the owner of the home is an LLC with the same two individuals signing as members of the LLC. Is the right of rescission required for this type of transaction and, if so, who signs the rescission, the borrowers or the LLC?
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