Legal Question in Real Estate Law in California

Statue of Limitations failure to disclose

purchased home 5/1/2000.

5/25/01, discovered seller had failed to disclose that siding was defective and that seller had filed claim in national class action suit and received settlement 2 weeks after closing. We owe $100K baloon payment due 5/1/01.

How long do we have to file suit for non-disclosure?

Do we have to pay the $100K pending resolution?

Estimate of replacement siding is $20K

thanks


Asked on 4/06/01, 3:24 pm

1 Answer from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: Statue of Limitations failure to disclose

You need to see a lawyer about this matter at once, if you haven't already.

This is not because you have an imminent statute of limitations deadline -- it's because of the money flows, preservation of evidence, and ease of proving your case and getting your judgment satisfied. There are several legal issues here and you have several possible suits and remedies.

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Answered on 6/07/01, 1:54 pm


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