Slide 12 of 48
Notes:
- Statutes of limitations
- Three year basic statute of limitations for damage to real property arising from construction defects following the time that an owner knew or should have known that property was damaged as a result of a contractor's work.
- Two-year statute of limitations applicable to recovery for damages arising from errors in design of construction projects.
- Four-year statute of limitations for actions based upon breach of a construction contract, pursuant to which a lawsuit must be brought within four years of actual breach of the contract.
- Four-year statute of limitations for recovery for "patent", or obvious, defects in construction, pursuant to which an action must be brought within four years after "substantial completion" of the home that has the so-called "patent defect".
- Ten years for "latent", or undiscoverable, defects (without the aid of an expert), arising from construction of the home following substantial completion.
- Virtually unlimited exposure period for personal injuries or death arising from faulty construction.
- An action can be brought for personal injury more than ten years following substantial completion of a project
- Must be within one year following the actual injury and/or death to the person
