May 2011 Archive

Don’t let time run out for making a claim

It is well established law that claims founded in contract are barred 6 years after the date on which the right to bring the claim accrues. This begs the question of when the cause of action accrues. In the case of someone bringing a claim against the seller or purchaser of a property, does it accrue when the sale is completed or when contracts for sale are exchanged? This can be a critical issue. By relying on the fact that the cause of action accrues on completion of the sale, you might issue your claim after the six year limitation period has expired if, in fact, the cause of action accrues when the contracts for sale are exchanged.
Filter by expertise