ORS 12.132: Action arising out of real estate appraisal activity or appraisal review.

(1) Except as provided in subsection (2) of this section, an action arising out of real estate appraisal activity, as defined in ORS 674.010, or appraisal review, as defined in ORS 674.200, must be commenced before the earlier of:

      (a) Two years after the date on which the person commencing the action knew or should have known the facts on which the action is based; or

      (b) Five years after the date on which the real estate appraisal activity or appraisal review on which the action is based was completed or should have been completed.

      (2) Subsection (1)(b) of this section does not apply to an action arising out of real estate appraisal activity or appraisal review based on fraud or misrepresentation.