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Bill Summary · HB 135

Legislative bill overview

HB 135 establishes statutes of repose for claims against real estate appraisers in Montana, setting time limits after which lawsuits against appraisers cannot be filed regardless of when damages are discovered. The bill creates a deadline—typically 6 years from the date of the appraisal—after which legal claims become barred.

Why is this important

This legislation affects homebuyers, lenders, and appraisers by determining how long parties have to pursue legal action for faulty appraisals that affect property transactions. Real estate appraisals directly influence mortgage approval and property values, making disputes potentially significant for financial outcomes. The statute of repose shifts risk allocation by limiting the window for litigation, which can either protect appraisers from long-tail liability or disadvantage claimants who discover problems late.

Potential points of contention

  • Consumer protection vs. industry protection: Homebuyers who discover appraisal errors years later (e.g., when refinancing or selling) may be unable to recover damages, while appraisers gain certainty and reduced liability exposure
  • Discovery rule limitations: The statute of repose differs from a statute of limitations—it bars claims even if the damage wasn't discoverable within the timeframe, which some argue is unfair to injured parties
  • Mortgage industry alignment: Lenders may benefit from reduced litigation risk, but consumers financing property purchases lose potential recourse for professional negligence after the deadline passes

Compiled from official sources — confirm details with the bill’s official record.

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