Bill > H268

This bill establishes a three-year statute of limitations, meaning the time limit for filing a lawsuit, for various actions related to residential home purchases and related services. Specifically, it mandates that any lawsuit stemming from a home sale conducted by a real estate broker must be filed within three years of the sale's completion. Similarly, actions concerning a home appraisal must be initiated within three years of the appraisal report's completion. For residential property mortgages, any legal action must be brought within three years of a completed mortgage application submitted to a mortgage broker. Finally, the bill sets a three-year limit for legal actions related to residential contracting, starting from the date the work is completed or the last work is performed by the registered contractor. These provisions aim to provide clearer timelines and promote consumer protection by defining when legal claims can be made in these real estate transactions.