A:
A conversion action is governed by the four year statute of limitations. Generally, the statute of limitations begins to run at the time of the conversion, except where the conversion action occurs from a fraudulently concealed act. However, there is authority that has taken the position that the discovery rule applies to an action for conversion. In other words, the statute of limitations for an action for conversion begins to run from the time one is on notice or reasonably should be on notice of the conversion.
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