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Committee backs five‑year statute-of-limitations for appraisers, sponsor and industry say
Summary
The Judiciary Committee voted to advance HB 14-29 after adopting an amendment to set a uniform five‑year limitations period; Appraisal Institute testimony said the change brings clarity to appraisers who otherwise face lawsuits many years after records are routinely destroyed.
House Bill 14-29, which would establish a five‑year statute of limitations for civil suits against appraisers, was approved by the Judiciary Committee as amended.
Representative Smolz explained the bill would provide clarity for appraiser firms that follow USPAP retention rules and routinely dispose of records after five years. The sponsor and an…
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