Reply To: Rescission

Mary Frances

Last question on this topic… hopefully 🙂
We have a borrower who has a land contract and the parents (who are not on the land contract) are going to buy the property for their children who will be living in the home. The children will not be on the loan. The children will be signing the Deed along with the seller over to the parents. I say there is not rescission because the parents are not living in the house. Is this correct?