What is the statute of limitations?
The statute of limitations sets the legal time limit for filing a lawsuit or claim. For an HOA, this could apply to unpaid dues, construction defects, or rule violations, and the exact timeframe varies by state and by the type of claim.
Why does the statute of limitations matter?
Waiting too long to pursue a legitimate claim, chasing old unpaid dues, addressing a construction defect, can mean losing the legal right to pursue it at all, no matter how valid the underlying claim was.
When You’ll Run Into This
This becomes urgent the moment a board realizes a claim it’s been putting off might be getting close to its filing deadline.
Legal note: this is general information, not legal advice. Rules and requirements vary by state and by community, so it is worth checking with your association’s attorney to get an accurate answer for your specific situation.
