Limitation of Actions Against Appraisers
| Type | Bill |
|---|---|
| Session | 2025 Regular Session |
| Subjects |
Concerning establishing a limitation of actions against an individual performing a real estate appraisal practice.
Bill Summary:
Under current law, the statute of limitations to bring certain claims against a real estate appraiser does not start until the party filing the claim has discovered, or should have discovered, an alleged defect in the appraisal. The act requires a claimant to bring an action against a real estate appraiser (appraiser) within 5 years after the date the appraisal report is completed and transmitted to a client. The 5-year limitation does not apply to an action against an appraiser for a defective appraisal report or service if the action is brought by:
- A consumer who is an original party to a residential mortgage loan or residential real estate transaction; or
- A mortgage originator who must repurchase a loan.
The 5-year limitation also does not apply to an action for fraud, for misrepresentation, or for a discriminatory housing practice brought against an appraiser.
(Note: This summary applies to this bill as enacted.)
Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 25-035 to the Committee of the Whole. | The motion passed on a vote of 12-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.001 | The motion passed without objection. | Vote summary |
| Refer Senate Bill 25-035, as amended, to the Committee of the Whole and with a recommendation that it be placed on the consent calendar. | The motion passed on a vote of 7-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 04/14/2025 | Third Reading | BILL |
64
AYE
0
NO
1
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 02/25/2025 | Third Reading | BILL |
31
AYE
1
NO
2
OTHER
|
Vote record |
| Date | Amendment Number | Committee/ Floor Hearing | Status | Documents |
|---|---|---|---|---|
| 02/20/2025 | L.001 | SEN Business, Labor, & Technology | Passed [*] |
| Date | Location | Action |
|---|---|---|
| 05/31/2025 | Governor | Governor Signed |
| 04/29/2025 | Governor | Sent to the Governor |
| 04/29/2025 | House | Signed by the Speaker of the House |
| 04/29/2025 | Senate | Signed by the President of the Senate |
| 04/14/2025 | House | House Third Reading Passed - No Amendments |
| 04/11/2025 | House | House Second Reading Special Order - Passed - No Amendments |
| 04/08/2025 | House | House Second Reading Laid Over Daily - No Amendments |
| 04/03/2025 | House | House Committee on Business Affairs & Labor Refer Unamended to House Committee of the Whole |
| 02/26/2025 | House | Introduced In House - Assigned to Business Affairs & Labor |
| 02/25/2025 | Senate | Senate Third Reading Passed - No Amendments |
| 02/24/2025 | Senate | Senate Second Reading Passed with Amendments - Committee |
| 02/20/2025 | Senate | Senate Committee on Business, Labor, & Technology Refer Amended - Consent Calendar to Senate Committee of the Whole |
| 01/08/2025 | Senate | Introduced In Senate - Assigned to Business, Labor, & Technology |
Prime Sponsor
Sponsor
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 08/06/2025 | 319 | Limitation of Actions Against Appraisers |