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Disclosure Notice: Right of Rescission

Free right of rescission disclosure notice template — informs a consumer of their legal right to cancel certain loan or credit transactions within a set period.

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This free disclosure notice: right of rescission covers Your Right to Cancel, How to Cancel, Effect of Cancellation with 5 clearly marked [placeholder] fields to fill in — built for small businesses and individuals documenting a loan or expense putting financial terms in writing so both sides have a clear, shared record. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.

Template — click to edit

Notice of Right to Cancel (Right of Rescission)

Transaction: [Description — e.g. refinance loan secured by primary residence] · Date: [Date]

Your Right to Cancel

You are entering into a transaction that will result in a [mortgage/lien/security interest] on your home. You have a legal right under federal law to cancel this transaction, without cost, within THREE BUSINESS DAYS after the latest of the following events: 1. The date of the transaction; or 2. The date you received your Truth in Lending disclosures; or 3. The date you received this notice of the right to cancel.

How to Cancel

If you decide to cancel, you must notify us in writing at: [Company Address], before midnight of [Date — the third business day].

You may use this notice by dating and signing below, or you may send another written notice.

I WISH TO CANCEL: ______________________ Date: ____________

Effect of Cancellation

If you cancel, any lien, mortgage, or security interest on your home related to this transaction becomes void, and any amounts you have paid must be returned to you within 20 days.

[Lender Name, Contact Information]

*This document is provided for informational and educational purposes only and does not constitute legal advice. Under the Truth in Lending Act (TILA), this right of rescission applies to most refinances and home equity loans secured by a primary residence — but generally does NOT apply to a purchase-money mortgage used to buy the home. The three-day period doesn't even start running until this exact notice has actually been given.*

Edit directly in the box above. Download PDF anytime — the docstoc.io footer is always included and cannot be removed.

What's included

Edit online — click the document, fill in placeholders, download a PDF
3 standard sections: Your Right to Cancel, How to Cancel, Effect of Cancellation
5 clearly marked [placeholder] fields for quick personalizing
Free to use — no account or signup required
Fully editable — adjust any clause to match your actual situation
Includes a signature block, ready to print or sign digitally
Fixed docstoc.io footer on every PDF (not removable)

Who this template is for

Freelancers & solo founders

Handling routine business paperwork without commissioning custom legal drafting for every document.

Small businesses

Standardizing recurring documents — leases, agreements, notices — across a growing operation.

Anyone reviewing before signing

Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.

Informal lending & reimbursements

Money changing hands between people or a business and its team, without a bank's paperwork.

FAQ

Is this disclosure notice: right of rescission template really free?

Yes. Like every template in docstoc's library, this disclosure notice: right of rescission is free to use, with no account or signup needed to view, edit, or download it.

What does this disclosure notice: right of rescission cover?

This finance template includes Your Right to Cancel, How to Cancel, Effect of Cancellation. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.

Is this legal advice?

No. This covers the standard structure, not the interest-rate limits, disclosure requirements, or tax implications that can apply depending on your state and the amount involved. Check those specifics with an accountant or financial attorney before you rely on it.

Can I edit the wording?

Yes. All 5 placeholder fields and every clause are editable right on the page — change what doesn't fit, then download an updated PDF anytime.

Where can I find more free templates like this?

Browse more free finance and related document templates in the docstoc library at /document-templates/.

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