SECTION 1. Chapter 112, as appearing in the 2010 Official Edition, is hereby amended by inserting, after section 87DDD½, the following new section:
Section 87EEE. Any action arising from a home sale shall be commenced only within three years after the date of a completed sale of a home by a real estate broker.
SECTION 2. Chapter 112, as appearing in the 2010 Official Edition, is hereby amended by inserting, after section 195, the following new section:
Section 195A. Any action arising from a home appraisal shall be commenced only within three years after the date of a completed appraisal report by a home appraiser.
SECTION 3. Chapter 255E, as appearing in the 2010 Official Edition, is hereby amended by inserting, at the end thereof, the following new section:
Section 13. Any action arising from a residential property mortgage shall be commenced only within three years after the date of a submitted and completed mortgage application to a mortgage broker.
SECTION 4. Section 3 of chapter 142A, as appearing in the 2010 Official Edition, is hereby amended by inserting, at the end thereof, the following new subsection:
(c) Any action arising from residential contracting shall be commenced only within three years after the date of completion or last work completed by the registrant.
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