Bill would narrow potential liability for appraisers; sponsors cite workforce decline
House Bill 2,477 would set a short limitations period for most causes of action arising from appraisal reports and restrict who may sue appraisers; sponsor and appraiser groups argued the change would reduce onerous recordkeeping and insurance burdens amid declining appraiser numbers.
The full story
House Bill 2,477, presented to the Consumer Protection and Business Committee, would require causes of action against appraisers, trainees, appraisal companies, and appraisal management companies arising from an appraisal report to be brought within a new statutory period — as briefed, staff described a 2‑year rule for most claims while preserving a longer discovery rule for fraud.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
Keep reading for free
Create a free account to finish this story and see the video, transcript and key details.
Continue with GoogleContinue with emailAlready have an account? Log in