MD SB477

Establishes a statute of limitations for civil actions related to real estate appraisals, requiring lawsuits to be filed within 2 years of when the complainant knew or should have known of the alleged act or omission, or 4 years from when the appraisal service was provided, whichever is earlier.

Covers civil damage claims for alleged acts or omissions in the performance, review, supervision, or management of appraisals, including valuation appraisals, analysis assignments, and review assignments.

Excludes from coverage: administrative actions by the Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors; cases where knowledge of the civil action was concealed by fraud; and listing/purchase price opinions by licensed real estate professionals that are not referred to as appraisals.

Applies prospectively only to causes of action accruing on or after the effective date of October 1, 2026.