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In Response To:
Thread Starter: Dan Persfull
Title: Re: HELOC - Right to Cancel Not Provided

Define "marital interest".

If the spouse is not on title they do not have rescission rights under Reg. Z. State law may be different however.

From 1026.2

2. Rescission rules. For purposes of rescission under ยงยง1026.15 and 1026.23, a consumer includes any natural person whose ownership interest in his or her principal dwelling is subject to the risk of loss. Thus, if a security interest is taken in A's ownership interest in a house and that house is A's principal dwelling, A is a consumer for purposes of rescission, even if A is not liable, either primarily or secondarily, on the underlying consumer credit transaction. An ownership interest does not include, for example, leaseholds or inchoate rights, such as dower.