Oregon has enacted legislation establishing a specific statute of limitations on civil actions against appraisers and appraisal firms for real estate appraisal activity. The law takes applies only to appraisals performed after January 1. It requires that any civil action against an appraiser or an appraisal firm commence within six years after the date of the “act or omission giving rise to the action.” The limitations will not apply to actions that allege fraud or misrepresentation.
