The terms “Statutes of Limitation” and “Statutes of Repose” are often confused. A statute of limitation limits the amount of time that a claimant has to file suit. Statutes of limitation generally begin to run on the date the cause of action accrues which, in most cases, is the time of an injury or the discovery of an injury to property of a person. They are purely a procedural defense to a claim. Technically speaking, the claim continues to exist but no relief can be obtained once the statute of limitation has expired.
Statutes of repose are considered to be more rigid in their application. Time limitations for statutes of repose are usually not measured from the day the cause of action accrues. Instead, they often are based upon the last act of the defendant causing the harm even if a claimant is not aware of the act or the damage. A statute of repose can run even before an injury has occurred if the applicable time limit has expired. Statutes of repose and statutes of limitation can prevent recovery for even the most serious injury or damage. If you suspect that you may have been injured or your property damaged as a result of negligence or an intentional act by some other person, do not delay in discussing your claim with an attorney.
For further information about Statutes of Limitations and Repose contact Bill Cannon or Martha Bradley.