Final answer:
A legal action due to information in a property transfer disclosure statement must be filed within a specific period defined by a statute of limitations, which varies by jurisdiction.
Step-by-step explanation:
The question pertains to the time frame within which a legal action must be filed following the receipt of information in a property transfer disclosure statement.
This period is often defined by what is known as a statute of limitations, which can vary depending on the jurisdiction and specific laws governing property transactions.
In general, statutes of limitations for filing legal actions related to real estate disclosures can range from a few years after the discovery of a defect or from the closing date of the transaction.
It's essential for parties involved in a property transaction to consult the specific laws of their state to determine the exact time frame for filing such a legal action. If such a time limit is not observed, the party may lose the right to sue based on the information disclosed.