Tolling Agreements in Florida: What You Need to Know
In the state of Florida, tolling agreements are a common legal tool used in a variety of situations. But what exactly are they, and how do they work? If you`re unfamiliar with tolling agreements in Florida, read on to learn more.
What is a Tolling Agreement?
A tolling agreement is a contract between two parties that suspends or stops the running of a statute of limitations. This means that the clock stops ticking on the amount of time one has to bring a legal claim or lawsuit. Tolling agreements are often used when one party is planning to file a lawsuit but needs more time to investigate or gather more evidence, or when the parties are in the process of negotiating a settlement but need more time to reach an agreement.
Tolling agreements can be a useful tool for both plaintiffs and defendants. For plaintiffs, they allow for more time to build a stronger legal case, which can increase the chance of success in a lawsuit. For defendants, tolling agreements can delay lawsuits and give them more time to prepare their defense.
When Are Tolling Agreements Used in Florida?
Tolling agreements are used in a variety of legal situations in Florida. Some common examples include:
– In personal injury cases: If someone is injured in an accident, they generally have four years from the date of the accident to file a lawsuit. However, if the parties are in the middle of settlement negotiations, they may enter into a tolling agreement to give them more time to reach a settlement.
– In construction disputes: Tolling agreements can be used in disputes between owners, contractors, or subcontractors involving construction defects or delays. The parties may enter into a tolling agreement to allow more time for negotiations or for the completion of a project.
– In environmental cases: Tolling agreements are often used in cases involving environmental contamination, where the discovery and remediation of contamination can take years. The parties may enter into a tolling agreement to allow more time for cleanup efforts or for negotiations to settle the claim.
Key Considerations for Tolling Agreements
If you`re considering entering into a tolling agreement in Florida, there are several key considerations to keep in mind:
– Make sure the tolling agreement is in writing and signed by both parties.
– Specify the date the tolling agreement goes into effect and when it will expire.
– Clearly outline the circumstances under which the tolling agreement can be terminated.
– Consider including a provision that requires the parties to continue to engage in settlement negotiations during the tolling period.
– Be aware that tolling agreements do not pause all legal deadlines, and there may be other deadlines that still apply.
Overall, tolling agreements can be a useful legal tool for parties in Florida who need more time to resolve a legal dispute. By understanding the basics of tolling agreements and working with an experienced attorney, you can help ensure that your legal rights are protected.