Statute of Limitations Basics

Statutes of limitations are laws that set the deadline or maximum period of time within which a lawsuit or claim may be filed. The deadlines vary depending on the circumstances of the case and the type

of case or claim. The periods of time also vary from state to state and vary depending on whether they are filed in federal or state court. If a lawsuit or claim is not filed before the statutory deadline, the right to sue or file a lawsuit or claim is barred. Under certain circumstances, a statute of limitations will be extended beyond its deadline.

There are several rationales for having statutes of limitations:

Fairness. Over time, memories fade, evidence is lost or disappears, and people want to get on with their lives without legal interference from the past.

The diminishing value of evidence. After an event takes place, over time, memories fade and important evidence may be lost or disappear. The best time to bring a lawsuit is as close to the event as possible so as to have the best evidence available to prove a lawsuit or claim (and to defend a lawsuit or claim);