Skip to content

Date of Signature Match Date of Document?

Answered by: 

Question: 
Does the date of signature have to match the date of document? For instance a promissory note is dated 01/01/2012 and the customers signs and dates the document 01/02/2012. Is this a violation of any kind? Either for consumer purpose loan or commercial?
Answer: 

If the loan wasn't signed until 1/2/12, then the note was not consummated until that date. The note date should match the date of consummation. This isn't necessarily a violation but leads to confusion.

If the loan was rescindable, then the 3 days for Right Of Rescission don't start counting until the loan is closed (1/2/12 in your example), not the note date (1/1/12 in your example).

First published on BankersOnline.com 9/10/12

First published on 09/10/2012

Filed under: 
Filed under lending as: 

Search Topics