Time limit for right of rescission

§ 405. Time limit for right of rescission Section 125 of the Truth in Lending Act (15 U.S.C. 1635) is amended by adding at the end thereof a new subsection as follows: “(f) An obligors right of rescission shall expire three years after the date of consummation of the transaction or upon the sale of the property, whichever occurs earlier, notwithstanding the fact that the disclosures required under this section or any other material dis-88 Stat. 1518closures required under this chapter have not been delivered to the obligor.”