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Committee backs statute-of-repose limits for real-estate appraisers
Summary
The Senate Judiciary Committee voted to concur on House Bill 135, which would set five-year and eight-year statutes of repose for tort and contract claims against real-estate appraisers, after proponents said the change would protect small appraisal businesses from suits long after records are discarded.
The Senate Judiciary Committee voted to concur on House Bill 135 on a 5-3 vote, moving the measure to the full Senate. The bill, sponsored in the House by Representative Steve Fitzpatrick, would create statutes of repose for claims against individual real-estate appraisers and appraisal firms: five years for tort claims and eight years for written-contract claims.
The bill’s sponsor, Representative Steve Fitzpatrick (House District 24), told the committee the measure would add a “hard cap” so claims cannot be extended indefinitely even if…
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