Legal Question in Real Estate Law in California
Errors and Omissions/Non Disclosure
I Purchased a home in 2003 and have just discovered that my home was red-tagged in 1992 due to an earthquake. So I went to our local public works office and found copies of the docs to support this. The foundation is faulty and my home is now sinking. The Home inspector (in 2003 hired by the realtor) said it was sound. a) I was never informed of this when I purchased the home. b) the broker/agent was the buyer/sellers agent c) the seller was not the owner at the time of the quake. What is the statute of limitation on something like this and who could I contact?
1 Answer from Attorneys
Re: Errors and Omissions/Non Disclosure
Interpreting and applying statutes of limitations can be somewhat tricky, and my first line of advice to you on something this dollar-wise important is to retain a local lawyer to whom you can assign the task of researching the statute of limitations and taking the responsibility for not mis-informing you. The statute for fraudulent non-disclosure is three years from time of discovery of the misrepresentation (or from when the fraud should have been discovered), but perhaps you can get another year under the four-year breach of written contract statute of limitations if a broker breached a contractual obligation to investigate and disclose.
Your possible suit is already moderately stale and it looks as though its viability may depend upon when facts emerged that did, or should have, tipped you off to the problems.
My strong advice is due to the large dollar significance of the issues and the abrupt loss of a right to sue if and when your best cause of action "times out," stop procrastinating and hire a lawyer that will be responsible to you if he goofs up.
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