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Pennsylvania Statutes Title 42 Pa.C.S.A. Judiciary and Judicial Procedure § 5539. Real estate appraisals

Current as of January 01, 2022 | Updated by FindLaw Staff

<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.

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Cite this article: FindLaw.com - Pennsylvania Statutes Title 42 Pa.C.S.A. Judiciary and Judicial Procedure § 5539. Real estate appraisals - last updated January 01, 2022 | https://codes.findlaw.com/pa/title-42-pacsa-judiciary-and-judicial-procedure/pa-csa-sect-42-5539/

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