It will all be based on State law, but typically the laws of the State in which the property is located will prevail.
State-Specific Disclosures: Residence State?
Are state-specific disclosures (such as home equity or ARM, etc.) specific to the borrower's residence state or the state of the originating bank is? If a borrower crosses a state line to use a branch nearer their home or a borrower is buying a vacation home in another state and goes to a bank in that state, which state applies to the disclosures?
First published on 11/20/2016