Michigan Seller Disclosure Update
The Michigan Court of Appeals affirmed a dismissal of a complaint alleging misrepresentations in the sellers' disclosure statement. Why? Because the parties agreed to a one-year deadline for lawsuits. See Fortune v Walsworth, 2020 WL 4913116. Absent such agreement, home buyers may have up to six years to pursue fraud-related claims against sellers. See Yu v. Migliazzo, 2018 WL 3244140. Yet another reminder that you should read the purchase agreement (before you sign). Don't be hypnotized by a form. They can be edited!