If a refinance transaction affecting a property is subject to rescission, how many siblings must submit a rescission notice to void the loan?

In a refinance transaction that is subject to rescission, the law allows any one co-borrower or titled owner to submit a rescission notice in order to void the loan. This is grounded in the idea that each borrower has equal rights in the transaction, and thus one individual can initiate the rescission process without the need for consensus among all parties involved. The ability of a single borrower to cancel the loan reflects the legal recognition of individual rights when it comes to consumer contracts.

This means that if one sibling in a scenario involving multiple siblings (like the five mentioned) decides they want to rescind the loan, they can do so independently. The regulations aim to provide consumer protections by allowing individuals to make decisions that can affect their financial obligations and commitments.

On the contrary, the other options suggest a requirement for input from multiple siblings, which is not supported by the legal framework that addresses rescission in mortgage transactions. Requirements for all or a majority of siblings to act together would unnecessarily complicate the rescission process and potentially hinder one individual's ability to protect their interests.