The statute of limitations of a claim under German law means that the creditor can no longer legally enforce his claim after a certain period has expired. The claim itself does not expire, but the debtor can invoke the statute of limitations to refuse payment or performance.
The regular limitation period is three years. It generally begins at the end of the year in which the claim arose and the creditor became aware of the circumstances giving rise to the claim and the identity of the debtor or should have become aware of them without gross negligence.
In addition to the regular limitation period, there are also shorter or longer periods. For example, the limitation period for warranty claims under German sales law is generally two years, while claims arising from a right in rem, such as property, only expire after 30 years.
The issue of limitation periods is complex and should be examined carefully in each individual case.
The creditor should examine the facts of the case immediately, have potential claims assessed by a German litigation lawyer and take the necessary steps in a timely manner to prevent the claim from becoming time-barred.
