How long does a buyer have to bring a lawsuit against the seller in reference to an SRPDS?

How long does a buyer have to bring a lawsuit against the seller in reference to an SRPDS?

• A. 1 year from receipt
• B. 2 years from receipt
• C. 3 years from receipt
• D. 5 years from receipt

Answer: (B)

In Hawaii, when it comes to the Seller’s Real Property Disclosure Statement (SRPDS), the law provides a specific timeframe within which a buyer can initiate legal action against the seller regarding any misrepresentation or breach of the disclosure obligations. According to Hawaii law, this period is set at two years from the date the buyer receives the SRPDS. This timeframe is crucial for buyers to understand, as it establishes the limits within which they can seek remedies if they discover issues related to the property that were not disclosed properly by the seller. The two-year period allows buyers adequate time to review the disclosures and address any concerns that may arise before it's too late to file a lawsuit. Understanding this timeframe is essential for both buyers and sellers, as it emphasizes the importance of transparency in real estate transactions and how long parties have to resolve disputes stemming from the disclosures made. Therefore, recognizing that the correct answer is two years underlines the significance of staying informed about legal timelines when involved in property transactions.

In Hawaii, when it comes to the Seller’s Real Property Disclosure Statement (SRPDS), the law provides a specific timeframe within which a buyer can initiate legal action against the seller regarding any misrepresentation or breach of the disclosure obligations. According to Hawaii law, this period is set at two years from the date the buyer receives the SRPDS. This timeframe is crucial for buyers to understand, as it establishes the limits within which they can seek remedies if they discover issues related to the property that were not disclosed properly by the seller.

The two-year period allows buyers adequate time to review the disclosures and address any concerns that may arise before it's too late to file a lawsuit. Understanding this timeframe is essential for both buyers and sellers, as it emphasizes the importance of transparency in real estate transactions and how long parties have to resolve disputes stemming from the disclosures made.

Therefore, recognizing that the correct answer is two years underlines the significance of staying informed about legal timelines when involved in property transactions.