(a) Two years after the date on which the person commencing the action knew or should have known the facts on which the action is based; or
(b) Five years after the date on which the real estate appraisal activity or appraisal review on which the action is based was completed or should have been completed.
(2) Subsection (1)(b) of this section does not apply to an action arising out of real estate appraisal activity or appraisal review based on fraud or misrepresentation. [2017 c.143 §1; 2019 c.114 §2]
Note: 12.132 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 12 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
Structure 2021 Oregon Revised Statutes
Volume : 01 - Courts, Oregon Rules of Civil Procedure
Chapter 012 - Limitations of Actions and Suits
Section 12.010 - Time of commencing actions.
Section 12.020 - When action deemed begun.
Section 12.060 - Suit or action on land contracts; time when they cease to affect the property.
Section 12.070 - Action on judgment, decree or sealed instrument.
Section 12.080 - Action on certain contracts or liabilities.
Section 12.085 - Action against garnishee.
Section 12.100 - Action on official act or penalty.
Section 12.115 - Action for negligent injury to person or property.
Section 12.117 - Actions based on child abuse.
Section 12.120 - Action on escape; action for defamation.
Section 12.125 - Action arising under rental agreement.
Section 12.132 - Action arising out of real estate appraisal activity or appraisal review.
Section 12.137 - Action for loss of or damage to property arising from nuclear incident.
Section 12.155 - Effect of notice of advance payment on running of period of limitation.
Section 12.160 - Suspension for minors and persons who have disabling mental condition.
Section 12.190 - Effect of death on limitations.
Section 12.195 - Effect of attorney death on limitations.
Section 12.220 - Commencement of new action after involuntary dismissal.
Section 12.272 - Action based on pesticide application.
Section 12.276 - Action for death, injury or damage resulting from breast implants.
Section 12.278 - Action against manufacturer of certain pickup trucks.
Section 12.282 - Action against manufacturer of extendable equipment.
Section 12.410 - Definitions for ORS 12.410 to 12.480.
Section 12.430 - Claims based on law of other states; limitation period.
Section 12.440 - Application of statutes and rules governing conflict of laws.
Section 12.450 - When limitation period of another state not applicable.
Section 12.460 - Claims to which statutes apply.