Q: I have a question about real estate law.
We purchased a home in 2014. The original listing was posted as 2.5 acres by the realtor. We are now learning that we only purchased 1.3 acres. Do we have any recourse?? We feel we were duped with the pricing of the property.
A:
Yes, you have potential recourse, including without limitation, possible claims for fraud, misrepresentation, and breach of statutory duties, but the clock is ticking. The general statute of limitations in Maine to commence a civil action (lawsuit) is "6 years after the cause of action accrues and not afterwards . . . .” 14 M.R.S. § 752. With only a few exceptions, Maine does not apply the discovery rule to determine when the statute starts to run, which means that the cause of action accrues, regardless of whether any injury is discovered, on the date that the injury to the plaintiff is sustained. Stated another way, mere ignorance of a cause of action does not prevent the statute of limitations from running. Accordingly, it is very important that you act quickly and seek competent legal advice about your specific situation as soon as possible.
I have successfully handled several of these types of claims for clients.
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