Plain English Breakdown
The official source material does not provide details on the statute of limitations for fraud cases, so this claim was removed.
Changes Time Limits for Certain Legal Actions
This act changes the statute of limitations, reducing the time allowed to file certain types of legal cases.
What This Bill Does
- Reduces the time limit from five years to three years for filing actions based on contracts or implied agreements.
- Shortens the period for filing an action based on a liability created by a law other than penalties or fines.
- Decreases the statute of limitations for trespassing cases involving real estate.
- Limits the time frame for filing cases about taking, damaging, or injuring personal property to three years.
Who It Names or Affects
- People and businesses involved in legal disputes based on contracts, implied agreements, statutes (except penalties), real estate trespassing, damage or injury to personal property.
Terms To Know
- statute of limitations
- A law that sets a time limit for filing certain types of legal actions after an event occurs.
- liability
- The state of being responsible or legally accountable for something, such as damages or debts.
Limits and Unknowns
- This act does not specify the exact changes to other types of legal actions that are not mentioned.
- It is unclear how this change will affect specific cases already in progress when the law takes effect.