CONDO-CLAIMS-DEVELOPER

Amends the Condominium Property Act. Provides that a tort action against a developer for an act or omission in the construction, design, planning, supervision, observation, or management of the construction of a condominium, condominium unit, or the common elements of a condominium shall be commenced within 4 years from the time that the unit owner or condominium association knew or should reasonably have known of such act or omission. Provides that if a unit owner otherwise entitled to bring an action could not do so solely because of a legal disability, then the limitation period does not begin to run until the disability is removed. Provides that these limitations do not apply to a cause of action arising out of a fraudulent misrepresentation or out of a fraudulent concealment of a cause of action. Provides that these provisions apply to actions commenced or pending on or after the effective date.