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FAQ

The right of rescission is provided on a no-questions-asked basis. The lender must give up its claim to the property and refund all fees within 20 days of the borrower exercising the right of rescission. Lenders must give borrowers a notice advising them of their right to rescind.

Generally, fixtures mean the things which are physically attached to land become the part and property of the landowners. In Indian law, the movable property assumes to be the immovable property for the legal purpose is called fixtures.

However, a buyer can only back out of the purchase contract before the official closing date. In a real estate purchase transaction, the buyer prepares an offer, signs it, and delivers it to the seller. The buyer also states the date that the offer will expire. This is known as the expiration date.

If you are refinancing a mortgage, you have until midnight of the third business day after the transaction to rescind (cancel) the mortgage contract. The right of rescission refers to the right of a consumer to cancel certain types of loans.

The Arkansas Home Solicitation Sales Act provides consumers with three days to cancel a sale made in the home or a location that is not the seller's permanent place of business.

(a) In addition to any other right to revoke an offer, the buyer has the absolute right to cancel a home solicitation contract or offer until midnight of the third calendar day, excluding Sundays and holidays as declared in § 1-5-101, after the day on which the buyer signs an agreement.