wa-law.org > bill > 2025-26 > HB 2477 > Original Bill
Except as provided in subsection (2) of this section, any claim or cause of action against a state-certified or state-licensed real estate appraiser, state-registered appraiser trainee, appraisal management company, or real estate appraisal company or business, arising out of an appraisal report, must be brought within the earlier of the two following periods:
Within two years from the date of discovery of the act or omission giving rise to the claim or cause of action; or
Within five years from the date the state-certified or state-licensed real estate appraiser or state-registered appraiser trainee signs or affixes their signature electronically or otherwise to the appraisal report.
Subsection (1) of this section does not apply to any claim or cause of action upon the grounds of fraud governed under RCW 4.16.080.
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An appraisal report is deemed prepared at the request of and exclusively for the benefit or use of:
The client;
An intended user of the appraisal report as specified within the appraisal report; and
If the client is a financial institution or mortgage lender, then its immediate successor in interest if transferring the appraisal report to another lender.
An appraisal report is deemed prepared for the intended use specified in the appraisal report.
A state-certified or state-licensed real estate appraiser, state-registered appraiser trainee, appraisal management company, or real estate appraisal company or business, may not be held liable in any court of law in any action arising out of an appraisal report to any person or entity other than a person or entity described in (a) of this subsection.
Sections 1, 3, and 4 of this act apply to any claim or cause of action against a state-certified or state-licensed real estate appraiser, state-registered appraiser trainee, appraisal management company, or real estate appraisal company or business, arising out of an appraisal report completed on or after the effective date of this section.
The statute of limitations and statute of repose in section 1 of this act applies to claims and causes of action against a real estate appraiser or trainee real estate appraiser certified, licensed, or registered under chapter 18.140 RCW, an appraisal management company licensed under chapter 18.310 RCW, or a real estate appraisal company or business, arising out of an appraisal report.
The statute of limitations and statute of repose in section 1 of this act applies to claims and causes of action against a real estate appraiser or trainee real estate appraiser certified, licensed, or registered under chapter 18.140 RCW, an appraisal management company licensed under this chapter, or a real estate appraisal company or business, arising out of an appraisal report.
The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.
If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected.