Credit extended to trusts established for tax or estate planning purposes or to land trusts, as described in comment 3(a)-10, is considered to be extended to a natural person for purposes of the definition of consumer.
All consumers who have the right to rescind must receive a copy of the CD at least 3 business days before consummation. If the property vests in a trust, we require all trustees of the trust to sign the mortgage note.
Would the CD list the Trust as a Borrower on page 1 of the CD? Or would the CD list the trustees as a Borrower on page 1 of the CD?