§ 82B.24 — PRIVATE RIGHT OF ACTION

Minnesota § 82B.24

• Jurisdiction: Minnesota
• Part: REAL ESTATE SALES REGULATIONS
• Ch. 82B: REAL ESTATE APPRAISERS

Text

Subdivision 1.Remedies.
Any person injured by a violation of the standards, duties, prohibitions, or requirements of section82B.20or82B.22shall have a private right of action and the court shall award:
(1) actual, incidental, and consequential damages;
(2) statutory damages of no less than $1,000 nor more than $2,000;
(3) punitive damages if appropriate, and as provided in sections549.191and549.20; and
(4) court costs and reasonable attorney fees.

Subd. 2.Private attorney general statute.
A person injured by a violation of the standards, duties, prohibitions, or requirements of section82B.20or82B.22also may bring an action under section8.31. A private right of action by a borrower under this chapter is in the public interest.

Subd. 3.Remedies cumulative.
The remedies provided in this section are cumulative and do not restrict any other right or remedy otherwise available to the borrower.

Subd. 4.Time limitations.
(a) A private right of action must be commenced the earlier of:
(1) six years from the date the appraisal services giving rise to the cause of action were performed or should have been performed;
(2) six years from the date the appraisal giving rise to the cause of action was completed or should have been completed; or
(3) the expiration of any other applicable statute of limitations.
(b) Paragraph (a), clauses (1) and (2), do not apply when the person alleges that an injury occurred due to:
(1) knowing and intentional fraud; or
(2) knowing and intentional misrepresentation during the performance of an appraisal.

Legislative History

2007 c 74 s 6;2017 c 37 s 5