Posted on: 28th Jul, 2007 01:40 pm
my sister in law is going through a divorce,they will be signing a quit claim deed,her husband is refinancing the house.the mortgage company has requested her to sign an "arbitrator rider" could you give some insight to what this is please
Hi Gbush,
It's an Arbitration Rider Clause, not arbitrator rider.
This clause is meant to allow the mortgage company to escape the consequences of making illegal and abusive loans.
You can gather more knowledge on it from the site refer http://www.acorn.org/index.php?id=925
Thanks
It's an Arbitration Rider Clause, not arbitrator rider.
This clause is meant to allow the mortgage company to escape the consequences of making illegal and abusive loans.
You can gather more knowledge on it from the site refer http://www.acorn.org/index.php?id=925
Thanks
"my sister in law is going through a divorce,they will be signing a quit claim deed,her husband is refinancing the house.The mortgage company has requested her to sign an "arbitrator rider" Could you give some insight to what this is please"
You may be referring to the arbitration clause. This clause is used in a contract which requires parties to resolve any disputes through arbitration process. Arbitration clause can specify that arbitration to take place within a specific jurisdiction. This clause is also used to bind parties to some kind of resolution outside of the courts. You can read more about it from here: http://en.wikipedia.org/wiki/Arbitration_clause
You may be referring to the arbitration clause. This clause is used in a contract which requires parties to resolve any disputes through arbitration process. Arbitration clause can specify that arbitration to take place within a specific jurisdiction. This clause is also used to bind parties to some kind of resolution outside of the courts. You can read more about it from here: http://en.wikipedia.org/wiki/Arbitration_clause