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Rescission Notice
(b)(1) Notice of right to rescind. In a transaction subject to rescission, a
creditor shall deliver two copies of the notice of the right to rescind to each
consumer entitled to rescind (one copy to each if the notice is delivered by
electronic communication as provided in § 226.36(b)). The notice shall be on a
separate document that identifies the transaction and shall clearly and
conspicuously disclose the following:
(i) The retention or acquisition of a security interest in the consumer's
principal dwelling.
(ii) The consumer's right to rescind the transaction.
(iii) How to exercise the right to rescind, with a form for that purpose,
designating the address of the creditor's place of business.
(iv) The effects of rescission, as described in paragraph (d) of this section.
(v) The date the rescission period expires.
(2) Proper form of notice. To satisfy the disclosure requirements of paragraph
(b)(1) of this section, the creditor shall provide the appropriate model form in
Appendix H of this part or a substantially similar notice.
(Return to Article.)
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