Is there a statute of limitations on real estate disclosure issues?
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Is there a statute of limitations on real estate disclosure issues?
My wife and her late husband bought this house ten years ago. The basement has been plagued with water seeping in, and we recently spent $20,000 to fix the water issue. As part of this process, electrical service had to be moved. In moving the service, drainage pipes were found buried about 30″ deep in the backyard. The electric company contracted severed the pipe and water continues to flow from it. My wife contacted the former owner who informed her that when she and her husband built the garage, a spring was discovered. So basically an spring runs under the yard and they did not disclose.
Asked on July 3, 2009 under Real Estate Law, Wisconsin
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I think you need to contact an attorney. I'm not a Wisconsin lawyer, and this is a question where states differ somewhat, but my research suggests that in this situation, where the facts were knowingly concealed from you and you had no way to discover them until now, the courts of your state will consider that the claim you have against the seller only "accrued" with the discovery. I would not put this to the test by waiting; you should have a lawyer review all of the facts, as soon as possible.
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