N.Y. Comp. Codes R. & Regs. tit. 20 § 641.11
Current through Register Vol. 46, No. 45, November 2, 2024
Section 257-a of the Tax Law defines statutory right of rescission as meaning the right of a borrower (mortgagor) to rescind a consumer credit transaction in which a security interest, including a mortgage, is retained or acquired in any real personal property that is used or is expected to be used as a residence of the mortgagor, as such right is provided in the "Truth in Lending Act" of the Federal Consumer Protection Act at section 125 ( Public Law 90-321; 82 Stat. 146 et seq.) and in the regulations issued by the Board of Governors of the Federal Reserve System pursuant to said title of said act.
N.Y. Comp. Codes R. & Regs. Tit. 20 § 641.11