Contracts
In Montana, a 'right of rescission' under TILA gives a borrower refinancing or taking out a home equity loan (non-purchase) the right to cancel within:
A24 hours
B3 business days✓ Correct
C5 business days
D7 calendar days
Explanation
Under the Truth in Lending Act (TILA), borrowers have a 3-business-day right of rescission for non-purchase transactions secured by their primary residence, such as refinances and home equity loans (but NOT purchase money mortgages).
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