is there a time frame on real estate disclosure
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is there a time frame on real estate disclosure
Wife I brought a sm chalet in Vermont 1 1/2 yrs ago. We found there is the possibility of large scale wind turbines within 1 1/2 miles of our home which could affect property value. Test towers were put up about a year before we bought. We are quite sure the property owner knew this but did not disclose. Can anything be done.
Thank-you, Pete
Asked on June 8, 2016 under Real Estate Law, Vermont
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
You would be bringing a suit based on fraud: on knowingly misrepresenting (including by omission) a material (or important) fact, with the intention that you rely on it, and upon which you reasonably did rely. The statute of limitations, or time within which you must initiate a suit, in your state is 6 years for fraud, so you are within time; however, there is no reason to wait, since if a party waits unnecessarily long, which degrades evidence and witness memory, courts may hold it against them. So you should still be within time and, if you intend to bring this case, should do so.
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