Legal Question in Real Estate Law in California

A lawsuit for fraud must be filed within 3 years of 'discovery' , whether involving real estate or otherwise. The longer the time to claimed "discovery, by the aggrieved party, of the facts constituting the fraud or mistake", the harder to prove you didn't or couldn't have known. If the property and case is in SoCal, and if it involves substantial merit, value and damages, and if you reasonably think you you can prove those three elements, and if you're serious about getting legal help, then feel free to contact me.

Just to clarify Mr. Nelson's correct answer, the time limit for taking legal action for any fraud, misrepresentation, or non-disclosure if there was a duty to disclose something, is three years from when the defrauded party discovers, "or through the exercise of reasonable diligence could have discovered" the fraud. The point being that one can extend the time limit nearly indefinitely, but only if they exercise reasonable diligence in their affairs and still would not have discovered the fraud earlier.

These time limits within which a suit must be brought are called "statutes of limitations." Three years for fraud, but also consider that it is four years for breach of a written agreement (from the time of breach) and ten years for latent (hidden) construction defects.