In many states, the term of the statute of repose is 12 years.

A statute of repose sets a strict limit on the time period within which a lawsuit can be filed, starting from the date of a specific event (such as the manufacture of a product or completion of construction), regardless of when the injury occurred. In many jurisdictions, this period is indeed set around 10 to 12 years for product liability or construction defects. Therefore, the statement is generally true.