Posted by PAW/FL on May 3, 2008, 5:11 am, in reply to "Split signing/RTC question" This post is strictly the opinion of the author and may not reflect the opinion of the management nor of any other user of this forum.
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Title 12, Reg Z, states that each consumer is entitled to their own rescission period. That is, the first signer gets three days starting from when they sign (or meet the other requirements) and the second signer's rescission period starts when they sign. Thus, in your scenario, if the first signer signs on Monday, May 5, their rescission period expires at midnight, May 8. If the second signer is signing on May 8th, their rescission period would start on that day (5/8) and expire at midnight, May 12th.
--Previous Message--
: In a split signing, is the Transaction
: Date on the RTC always the day the
: first person (husband) signs? When
: the second person (wife) signs, her
: RTC date is 3 business days from the
: day she signs - BUT the transaction
: date does not change. Right?
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