Posted By: Anonymous
right of rescission - 07/27/05 07:34 PM
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.
Posted By: RR Joker
Re: right of rescission - 07/27/05 07:41 PM
If it's a straight-out purchase...no.
Posted By: Dan Persfull
Re: right of rescission - 07/27/05 08:12 PM
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)