Legal Question in Real Estate Law in Virginia
What is Virginia's statute of limitations on suing for "Unjust Enrichment"?
Current Noteholder (3rd Assignee) is suing (11 yrs 3 mos after recordation of defective deed of trust) for creation of equitable lien/constructive trust claiming "unjust enrichment".
1 Answer from Attorneys
As far as I am aware there is no statute of limitations for the equitable
remedy known as unjust enrichment in and of itself but rather any statute of limitation that may apply to a particular situation giving rise to such a claim would likely depend upon the underlying transaction which in the situation described would likely lie in contract and would therefore likely not exceed five years from the date this current noteholder
purchased the note at issue thereby acquiring its current status as the so-called "3rd Assignee". (The foregoing is my considered opinion.)
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