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§ 5539. Real estate appraisals

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 42 Pa.C.S.A. Judiciary and Judicial ProcedureEffective: February 22, 2022

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 42 Pa.C.S.A. Judiciary and Judicial Procedure (Refs & Annos)
Part VI. Actions, Proceedings and Other Matters Generally
Chapter 55. Limitation of Time (Refs & Annos)
Subchapter B. Civil Actions and Proceedings (Refs & Annos)
Effective: February 22, 2022
42 Pa.C.S.A. § 5539
§ 5539. Real estate appraisals
Currentness
<Section 2 of 2021, Dec. 22, P.L. 452, No. 93, provides that the five-year period of repose under this section shall not apply to a cause of action which has accrued on or before Feb. 22, 2022.>
(a) General rule.--Except as provided under subsection (b), an action to recover damages against a real estate appraiser arising out of the appraiser's real estate appraisal activity shall be brought within five years after the date the appraisal was conducted.
(b) Exception.--An action to recover damages against a real estate appraiser under subsection (a) may be filed more than five years after the date the appraisal was conducted if:
(1) there is evidence of fraud or intentional misrepresentation on the part of the real estate appraiser; or
(2) the appraisal was performed for a consumer as part of the purchase or sale of single-family residential real property not involving a lender.

Credits

2021, Dec. 22, P.L. 452, No. 93, § 1, effective in 60 days [Feb. 22, 2022].
42 Pa.C.S.A. § 5539, PA ST 42 Pa.C.S.A. § 5539
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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