MD SB477

Licensed real estate appraisers must retain records for 12 years from delivery to client, increased from the previous 5-year requirement; if litigation arises during this period, a new 12-year retention period begins from final disposition

Civil actions for appraisal-related acts or omissions must be filed within 2 years of discovery or 4 years from when the appraisal service was provided, whichever is earlier

Discriminatory housing practice claims related to residential property appraisals receive an extended 12-year statute of limitations, compared to the standard 2-year limit for other housing discrimination claims

The new statute of limitations does not apply to administrative actions by the Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors, or to cases where fraud concealed knowledge of the civil action

Applies prospectively only to causes of action accruing on or after October 1, 2026