Llano Financing Group, LLC v. Theodore F. Petit

We must decide when the statute of limitations commences on a lender’s negligent appraisal claim. We hold that when a lender funds a loan relying on a faulty appraisal, claims based on that faulty appraisal and subject to section 95.11(3)’s four-year statute of limitations accrue immediately. We therefore affirm the trial court’s order dismissing appellant’s claims.

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Theodore Petit was an appraiser. His job was to provide real estate appraisals to lenders, who relied on appraisals in approving mortgage loans. 1 Way back in 2004, Petit prepared an appraisal for a home on Jacksonville’s Autumn…