Hidden defects discovered several years after the purchase
Five (5) years ago you bought your house. You decide to renovate the basement to bring it up to date. Surprise! You discover signs of mold and water infiltrations. These signs were not visible before you started your work or at the time of the purchase. What are your rights ?
Many people mistakenly believe that since several years have passed since the purchased their house that they no longer have recourses against their sellers. However, the prescription delay for instituting a recourse for hidden defects is three (3) years from the discovery / knowledge of the defects / problems and not the date of the acquisition. Thus, even if you have been homeowners for many years, you could still have recourse against your sellers.
On the other hand, as with any situation of hidden defects, it is important to act quickly.