Bill
LC 2130
Overview: LC 2130, Generally revise statutes of limitations laws relating to real property, (LC) Draft Delivered to Requester, Introduced: November 29, 2024Purpose and Intent: This
Overview: LC 2130, Generally revise statutes of limitations laws relating to real property, (LC) Draft Delivered to Requester, Introduced: November 29, 2024
Purpose and Intent: This bill aims to make changes to the statutes of limitations laws in the state, specifically as they relate to real property disputes and claims. The primary goal is to provide more clarity and consistency in the time frames for filing various types of real estate-related legal actions.
Key Provisions:
- Extends the statute of limitations for actions related to the title or ownership of real property from the current 5 years to 10 years
- Increases the statute of limitations for actions involving the enforcement of a mortgage or deed of trust from 10 years to 15 years
- Establishes a 10-year statute of limitations for actions related to the construction or improvement of real property
Affected Parties and Impacts:
- Homeowners, landowners, and real estate investors will have more time to file legal claims related to their property
- Mortgage lenders and financial institutions may need to adjust their practices and record-keeping to accommodate the longer time frames
- The changes could impact the overall real estate market and the resolution of property-related disputes
Procedural and Timeline Considerations:
The bill is currently in the draft stage and has been delivered to the requester. Further legislative action, such as committee review and voting, will be required before the bill can advance.
Compiled from official sources — confirm details with the bill’s official record.
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