Q: Maryland 3 day wait on re-finance rescission ...looking for a waiver
I am about to close on a cash-out re-finance on real estate property, primary residence, and the 3 day right-of-rescission wait may interfere with another contract I have that needs to be funded before the 3 day rescission is over . Can that be waived for circumstances of this nature ?
A: The 3 day right of rescission is not waivable. You should try to get an extension of the time for the other deal. If you execute an authorization to disburse funds directly to the third party the title company should honor that and disburse the funds as directed. If you offer to make this authorization irrevocable and the party to the other transaction should be comfortable enough to agree to extend for the extra day or so.
This response is intended only as general information and is not intended as nor does it serve as legal advice and no attorney client relationship has been established between the poster and the responding attorney. The poster is advised to retain counsel of their own choosing before undertaking or not undertaking any actions.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.