Election Regarding Right of Rescission
Basic Information
Date:
Borrower:
[Borrower’s Spouse:]
Borrower’s Mailing Address:
[Borrower’s Spouse’s Mailing Address:]
Contractor:
Contractor’s Mailing Address:
Mechanic’s Lien Contract
Date:
Amount:
Property: [address]
In accordance with section 50(a)(5)(C), article XVI, of the Texas Constitution, Borrower [and Borrower’s Spouse] provide[s] Contractor with the following notice regarding the Mechanic’s Lien Contract and any other related contract between Borrower and Contractor for improvements to the Property:
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I have elected not to rescind the Mechanic’s Lien Contract (or any other related contract with the Contractor for improvements to the Property). I acknowledge that more than three days have expired from the date that the Mechanic’s Lien Contract (and any other related contract with the Contractor for improvements to the Property) was signed by all the parties. |
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I have elected to rescind the Mechanic’s Lien Contract (and all related contracts with the Contractor for improvements to the Property). This notice is given within three days from the date that the Mechanic’s Lien Contract (and related contracts with the Contractor for improvements to the Property) was made. |
[Name of borrower]
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Include the following if applicable. |
[Name of borrower’s spouse]