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Michigan Department of Treasury 4640 (Rev. 0213) ASSESSOR IS DATE STAMP Conditional Rescission of Principal Residence Exemption (PRE) Issued under authority of Public Act 206 of 1893. Read the instructions
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How to fill out conditional rescission of principal:

01
Start by obtaining the necessary forms. These forms can typically be found on the website of the organization or institution that is responsible for overseeing the conditional rescission process.
02
Read the instructions carefully. The instructions will provide important information on how to properly fill out the form and what supporting documents may be required.
03
Fill out the personal information section. This includes your full name, contact information, and any identification numbers or reference numbers that may be required.
04
Provide details about the principal. This includes their name, contact information, and any relevant identification numbers or reference numbers.
05
Clearly state the reason for the conditional rescission. This could be due to a change in circumstances, a mistake, or any other valid reason. Make sure to provide all necessary details and supporting evidence, if required.
06
Attach any supporting documents. These may include letters, contracts, or any other relevant materials that support your request for the conditional rescission.
07
Review the completed form and ensure that all information is accurate and complete. Make any necessary corrections or additions before submitting.
08
Submit the form and supporting documents as instructed. It is important to follow the specified submission process to ensure that your request is received and processed in a timely manner.

Who needs conditional rescission of principal:

01
Individuals who have entered into a contract or agreement that includes a conditional rescission clause may need to utilize this process if they meet the conditions outlined in the agreement.
02
Students who have received conditional offers of admission to educational institutions may need to complete a conditional rescission of principal if they no longer wish to pursue their studies or if they no longer meet the conditions outlined in the offer.
03
Employees who have been hired under conditions which may be subject to rescission may need to go through this process if they choose to withdraw from employment or if their conditions are no longer being met.
Overall, the need for conditional rescission of principal can arise in various situations where a contract or agreement has been made, and there are conditions in place that allow for the rescission of the principal.
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Conditional rescission of principal is a legal document that allows a borrower to cancel a mortgage loan within a certain time frame.
The borrower is required to file conditional rescission of principal.
To fill out conditional rescission of principal, the borrower needs to provide their name, address, loan number, and the date of the rescission.
The purpose of conditional rescission of principal is to give borrowers the right to cancel a mortgage loan if they change their mind within a certain time frame.
The conditional rescission of principal must report the borrower's name, address, loan number, and the date of the rescission.
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