How long does a buyer have to sue a seller who falsely claimed that the house had not undergone major water damage?

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How long does a buyer have to sue a seller who falsely claimed that the house had not undergone major water damage?

It is almost 3 years since we bought the home, and we just discovered from the neighbors the extensive water damage the home suffered.

Asked on January 25, 2016 under Real Estate Law, Louisiana

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

It is likely too long: in your state, the statute of limitations, or time within which to sue, for fraud, or lying about something material or important in the context of a transaction, etc., is only one (1) year. That said, there are grounds to sometimes extend the statutory period, and depending on what was stated or included in the contract of sale, it may be possible to bring this under a breach of contract basis instead, which should give you ten (10) years. You should bring the contract of sale, any disclorues or advertisements, etc. to an attorney to review with, to see both if you are still in time to sue, and what your suit might be worth.


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