Atlanta Building News - Summer 2016 - (Page 25)

LeG a L c OrN er A One-Year Warranty Period is not a One-Year Statute of Limitation many builders and others in the construction industry mistakenly believe that they have no potential liability to a homeowner after the end of a one-year written homeowner warranty. They mistakenly equate the warranty period with a statute of limitation. In fact, in almost all cases, potential liability continues for much longer than one year. While warranties vary, generally, the one-year period is merely the period during which a homeowner can provide notice of a warranty issue. If notice of a warranty issue is given during that period and the builder fails to properly address the warranty issue, a homeowner will generally have six years from the notice in which to initiate a suit or arbitration proceeding. Moreover, the one-year warranty period generally does not apply at all to claims other than warranty claims, such as claims for negligence, breach of the underlying construction or sale contract, or fraud. Most of the time, those claims can be asserted for between four and six years depending on the claim. In some circumstances, homeowners can assert fraud claims for as long as eight to 10 years. In short, a warranty period is not a statute of limitation. Frank O. Brown, Jr. is General Counsel to the Greater Atlanta Home Builders Association, Inc. and is a shareholder at Weissman, Nowack, Curry & Wilco, P.C. For questions or comments regarding this article, he may be reached at (404) 926-4504 or 55+ HO uSIN G c O u N cIL the single Female Homebuyer By Dianne Smith Bloomberg has reported that in 2016 single female home buyers will make a comeback. There are various reasons fueling these homebuyers including increased salaries, divorce rates, death of a partner, and needing a larger home for their family. Single women are purchasing homes at a rate nearly double the homes purchased by single men. This national statistic plays into the Atlanta market, especially given the fact that Atlanta is at the top of the Forbes "Best Cities for Singles" list. This trend is very evident with the Baby Boomers. Harris Poll on behalf of PulteGroup, parent company of Del Webb, conducted a survey of single female homebuyers. Single female homebuyers represent one in five of the Del Webb homebuyers. Lindsey Motley, regional vice president of sales for PulteGroup, says statistics show that 28% of single females housing needs will change over the next 5 years. This is a segment very much worth taking note of. 25

Table of Contents for the Digital Edition of Atlanta Building News - Summer 2016

Letter from the President
Education and Events Calendar
Can Potential Buyers Find You Online?
EARTHCRAFT: Spreading the Green Building Gospel
EDUCATION: Meet Our New Education Manager
BOOKSTORE: Residential Construction Performance Guildelines
HOMEAID ATLANTA: Spring Brings New Life and New Projects to Help Rebuild Lives through HomeAid Atlanta
LEGAL CORNER: A One-Year Warranty Period is not a One-Year Statute of Limitation
55+ HOUSING COUNCIL: The Single Female Homebuyer
SALES AND MARKETING COUNCIL: The New Breed of Today's Design Centers
REMODELER’S COUNCIL: Effectively Market Your Business
PWB ATLANTA CHAPTER: Two PWB Atlanta Members Lift Up Homes for Heroes®
Index to Advertisers/

Atlanta Building News - Summer 2016