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#392401 - 07/27/05 07:34 PM right of rescission
Anonymous
Unregistered

If someone is renting a house and then they decide to purchase it, would they have a right to rescind? Thanks in advance for any info.

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Lending Compliance
#392402 - 07/27/05 07:41 PM Re: right of rescission
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
If it's a straight-out purchase...no.
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My opinion only. Not legal advice.

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#392403 - 07/27/05 08:12 PM Re: right of rescission
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
If they had a rent to purchase agreement then this would be similar to a sales contract and they have obtain some ownership interest in the property and the ROR would apply. OSC 226.2(a)(24)(5)(ii)
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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