What is the statute of repose for civil fraud?

The statute of repose for civil fraud in New York is six years from the date of the fraudulent act. This means that in New York, a plaintiff has six years from the date of the fraudulent act to bring a lawsuit against a defendant for fraud. Once this six-year period passes, the plaintiff is no longer able to file a claim against the defendant, even if the plaintiff is unaware of the fraud. In some cases, the statute of repose for civil fraud can be extended if the plaintiff did not discover the fraudulent act until after the six-year period had passed. In these cases, the plaintiff typically has three years from the date of discovery to bring the lawsuit. In addition to the statute of repose, New York also has a statute of limitations. This statute limits the time in which the plaintiff has to file a lawsuit to three years after the date of the alleged fraud. This means that the plaintiff has to file a lawsuit within three years of the fraudulent act in order to have legal standing to do so. It is important to understand the statutory periods for civil fraud in New York in order to file the lawsuit within the proper time period. If the plaintiff fails to do so, they may not be able to bring a claim against the defendant. If you have questions related to civil fraud law in New York, it is best to consult with an experienced attorney that specializes in civil fraud law.

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