Posted by Bob-Chicago on May 3, 2008, 7:17 am, in reply to "Re: Split signing/RTC question"
76.16.172.10
is it necessary to to change the "transaction" date.
I don't believe that it is necessary as
each signer's RTC date is determined by
the LATER of the Xtion date or receipt by them of the applicable docs. (RTC copies) and TIL(if applicable)
Not a bad idea to change to RTC date, but
most standard language does not make it necessary
--Previous Message--
: 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?
: 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.
:
: Visit us online at
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:
: I am not an attorney licensed to
: practice law in the State of Florida,
: and I may not give legal advice or
: accept fees for legal advice.
:
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