Disclosures Required in Connection with Conveyances of Residential Real Property

C.R.S. tit. 38, art. 35.7

in effect

C.R.S. § 38-35.7-101 Disclosure - special taxing districts - general obligation indebtedness

38-35.7-101. Disclosure - special taxing districts - general obligation indebtedness. (1) Every contract for the purchase and sale of residential real property shall contain a disclosure statement in bold-faced type which is clearly legible and in substantially the following form: SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY, AND BY OBTAINING FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND RECORDER, OR THE COUNTY ASSESSOR. (2) The obligation to provide the disclosure set forth in subsection (1) of this section shall be upon the seller, and, in the event of the failure by the seller to provide the written disclosure described in subsection (1) of this section, the purchaser shall have a claim for relief against the seller for all damages to the purchaser resulting from such failure plus court costs.

C.R.S. § 38-35.7-102 Disclosure - common interest community - obligation to pay assessments - requirement for architectural approval

38-35.7-102. Disclosure - common interest community - obligation to pay assessments - requirement for architectural approval. (1) On and after January 1, 2007, every contract for the purchase and sale of residential real property in a common interest community shall contain a disclosure statement in bold-faced type that is clearly legible and in substantially the following form: THE PROPERTY IS LOCATED WITHIN A COMMON INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY. THE OWNER OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNER'S ASSOCIATION FOR THE COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION. (2) (a) The obligation to provide the disclosure set forth in subsection (1) of this section shall be upon the seller, and, in the event of the failure by the seller to provide the written disclosure described in subsection (1) of this section, the purchaser shall have a claim for relief against the seller for actual damages directly and proximately caused by such failure plus court costs. It shall be an affirmative defense to any claim for damages brought under this section that the purchaser had actual or constructive knowledge of the facts and information required to be disclosed. (b) Upon request, the seller shall either provide to the buyer or authorize the unit owners' association to provide to the buyer, upon payment of the association's usual fee pursuant to section 38-33.3-317 (4), all of the common interest community's governing documents and financial documents, as listed in the most recent available version of the contract to buy and sell real estate promulgated by the real estate commission as of the date of the contract. (3) This section shall not apply to the sale of a unit that is a time share unit, as defined in section 38-33-110 (7).

C.R.S. § 38-35.7-103 Disclosure - methamphetamine laboratory

38-35.7-103. Disclosure - methamphetamine laboratory. (1) A buyer of residential real property has the right to test the property for the purpose of determining whether the property has ever been used as a methamphetamine laboratory. (2) (a) Tests conducted pursuant to this section shall be performed by a certified industrial hygienist or industrial hygienist, as those terms are defined in section 24-30-1402, C.R.S., and in accordance with the procedures and standards established by rules of the state board of health promulgated pursuant to section 25-18.5-102, C.R.S. If the buyer's test results indicate that the property has been contaminated with methamphetamine or other contaminants for which standards have been established pursuant to section 25-18.5-102, C.R.S., and has not been remediated to meet the standards established by rules of the state board of health promulgated pursuant to section 25-18.5-102, C.R.S., the buyer shall promptly give written notice to the seller of the results of the test, and the buyer may terminate the contract. The contract shall not limit the rights to test the property or to cancel the contract based upon the result of the tests. (b) The seller shall have thirty days after receipt of the notice to conduct a second independent test. If the seller's test results indicate that the property has been used as a methamphetamine laboratory but has not been remediated to meet the standards established by rules of the state board of health promulgated pursuant to section 25-18.5-102, C.R.S., then the second independent hygienist shall so notify the seller. (c) If the seller receives a notice under this subsection (2) and does not elect to have the property retested under this subsection (2), then an illegal drug laboratory used to manufacture methamphetamine has been discovered. Nothing in this section prohibits a buyer from purchasing the property and assuming liability under section 25-18.5-103, C.R.S., if, on the date of closing, the buyer provides notice to the department of public health and environment and governing body of the purchase and assumption of liability and if the remediation required by section 25-18.5-103, C.R.S., is completed within ninety days after the date of closing. (3) (a) Except as specified in subsection (4) of this section, the seller shall disclose in writing to the buyer whether the seller knows that the property was previously used as a methamphetamine laboratory. (b) A seller who fails to make a disclosure required by this section at or before the time of sale and who knew of methamphetamine production on the property is liable to the buyer for: (I) Costs relating to remediation of the property according to the standards established by rules of the state board of health promulgated pursuant to section 25-18.5-102, C.R.S.; (II) Costs relating to health-related injuries occurring after the sale to residents of the property caused by methamphetamine production on the property; and (III) Reasonable attorney fees for collection of costs from the seller. (c) A buyer shall commence an action under this subsection (3) within three years after the date on which the buyer closed the purchase of the property where the methamphetamine production occurred. (4) If the seller becomes aware that the property was an illegal methamphetamine drug laboratory, remediates the property in accordance with the standards established pursuant to section 25-18.5-102, and receives certificates of compliance under section 25-18.5-102 (1)(e), then: (a) The seller is not required to disclose that the property was used as an illegal methamphetamine drug laboratory to a buyer; and eller becomes aware that the property was an illegal methamphetamine drug laboratory, remediates the property in accordance with the standards established pursuant to section 25-18.5-102, and receives certificates of compliance under section 25-18.5-102 (1)(e), then: (a) The seller is not required to disclose that the property was used as an illegal methamphetamine drug laboratory to a buyer; and (b) Five years after the later date on the certificates of compliance issued pursuant to section 25-18.5-102 (1)(e), the property is no longer included in the database listing properties that have been used as an illegal methamphetamine drug laboratory in accordance with section 25-18.5-106 (2). (5) For purposes of this section, "residential real property" or "property" includes a manufactured home; mobile home; condominium; townhome; home sold by the owner, a financial institution, or the federal department of housing and urban development; rental property, including an apartment; and short-term residence such as a motel or hotel.

C.R.S. § 38-35.7-104 Disclosure of potable water source - rules

38-35.7-104. Disclosure of potable water source - rules. (1) (a) (I) By January 1, 2008, the real estate commission created in section 12-10-206 shall, by rule, require each listing contract, contract of sale, or seller's property disclosure for residential real property that is subject to the commission's jurisdiction pursuant to article 10 of title 12 to disclose the source of potable water for the property, which disclosure shall include substantially the following information: THE SOURCE OF POTABLE WATER FOR THIS REAL ESTATE IS: □ A WELL; □ A WATER PROVIDER, WHICH CAN BE CONTACTED AS FOLLOWS: NAME: ADDRESS: WEB SITE: TELEPHONE: </ U> □ NEITHER A WELL NOR A WATER PROVIDER. THE SOURCE IS [DESCRIBE]: SOME WATER PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUNDWATER. YOU MAY WISH TO CONTACT YOUR PROVIDER TO DETERMINE THE LONG-TERM SUFFICIENCY OF THE PROVIDER'S WATER SUPPLIES. (II) On and after January 1, 2008, each listing contract, contract of sale, or seller's property disclosure for residential real property that is not subject to the real estate commission's jurisdiction pursuant to article 10 of title 12 shall contain a disclosure statement in bold-faced type that is clearly legible in substantially the same form as is specified in subsection (1)(a)(I) of this section. (b) If the disclosure statement required by paragraph (a) of this subsection (1) indicates that the source of potable water is a well, the seller shall also provide with such disclosure a copy of the current well permit if one is available. (2) The obligation to provide the disclosure set forth in subsection (1) of this section shall be upon the seller. If the seller complies with this section, the purchaser shall not have any claim under this section for relief against the seller or any person licensed pursuant to article 10 of title 12 for any damages to the purchaser resulting from an alleged inadequacy of the property's source of water. Nothing in this section shall affect any remedy that the purchaser may otherwise have against the seller. (3) For purposes of this section, "residential real property" means residential land and residential improvements, as those terms are defined in section 39-1-102, C.R.S., but does not include hotels and motels, as those terms are defined in section 39-1-102, C.R.S.; except that a mobile home and a manufactured home, as those terms are defined in section 39-1-102, C.R.S., shall be deemed to be residential real property only if the mobile home or manufactured home is permanently affixed to a foundation.

C.R.S. § 38-35.7-105 Disclosure of transportation projects - rules

38-35.7-105. Disclosure of transportation projects - rules. No later than January 1, 2009, the real estate commission created in section 12-10-206 shall, by rule, require each seller's property disclosure for real property that is subject to the commission's jurisdiction pursuant to article 10 of title 12 to disclose the existence of any proposed or existing transportation project that affects or is expected to affect the real property.

C.R.S. § 38-35.7-106 Solar prewire option - solar consultation

38-35.7-106. Solar prewire option - solar consultation. (1) (a) Every person that builds a new single-family detached residence for which a buyer is under contract shall offer the buyer the opportunity to have each of the following options included in the residence's electrical system or plumbing system, or both: (I) A residential photovoltaic solar generation system or a residential solar thermal system, or both; (II) Upgrades of wiring or plumbing, or both, planned by the builder to accommodate future installation of such systems; and (III) A chase or conduit, or both, constructed to allow ease of future installation of the necessary wiring or plumbing for such systems. (b) The offer required by subsection (1)(a) of this section must be made in accordance with the builder's construction schedule for the residence. (2) Every person that builds a new single-family detached residence for sale, whether or not the residence has been prewired for a photovoltaic solar generation system, shall provide to every buyer under contract a list of businesses in the area that offer residential solar installation services so that the buyer, if he or she so desires, can obtain expert help in assessing whether the residence is a good candidate for solar installation and how much of a cost savings a residential photovoltaic solar generation system could provide. The list of businesses shall be derived from a master list of Colorado solar installers maintained by the Colorado solar energy industries association, or a successor organization. (3) Repealed. (4) Providing the master list of solar installers prepared by the Colorado solar energy industries association, or a successor organization, to a buyer under contract shall not constitute an endorsement of any installer or contractor listed. A person that builds a new single-family detached residence shall not be liable for any advice, labor, or materials provided to the buyer by a third-party solar installer. (5) Repealed. (6) Nothing in this section shall preclude a person that builds a new single-family detached residence from: (a) Subjecting solar photovoltaic electrical system upgrades to the same terms and conditions as other upgrades, including but not limited to charges related to upgrades, deposits required for upgrades, deadlines, and construction timelines; (b) Selecting the contractors that will complete the installation of solar photovoltaic electrical system upgrades; (c) Stipulating in the purchase agreement or sales contract that solar photovoltaic electrical system upgrades are based on technology available at the time of installation and such upgrades may not support all solar photovoltaic systems or systems installed at a future date, and that the person that builds a new single-family detached residence shall not be liable for any additional upgrades, retrofits, or other alterations to the residence that may be necessary to accommodate a solar photovoltaic system installed at a future date. (7) (a) This section applies to contracts entered into on or after August 10, 2009, to purchase new single-family detached residences built on or after August 10, 2009. (b) This section does not apply to: (I) An unoccupied home serving as sales inventory or a model home; or (II) A manufactured home as defined in section 24-32-3302 (20).

C.R.S. § 38-35.7-107 Water-smart homes option

38-35.7-107. Water-smart homes option. (1) (a) Every person that builds a new single-family detached residence for which a buyer is under contract shall offer the buyer the opportunity to select one or more of the following water-smart home options for the residence: (I) Repealed. (II) If dishwashers or clothes washers are financed, installed, or sold as upgrades through the home builder, the builder shall offer a model that is qualified pursuant to the federal environmental protection agency's energy star program at the time of offering. Clothes washers shall have a water factor of less than or equal to six gallons of water per cycle per cubic foot of capacity. (III) If landscaping is financed, installed, or sold as upgrades through the home builder and will be maintained by the home owner, the home builder shall offer a landscape design that follows the landscape practices specified in this subparagraph (III) to ensure both the professional design and installation of such landscaping and that water conservation will be accomplished. These best management practices are contained in the document titled "Green Industry Best Management Practices (BMPs) for the Conservation and Protection of Water Resources in Colorado: Moving Toward Sustainability", 3rd release, and appendix, released in May 2008, or this document's successors due to future inclusion of improved landscaping practices, water conservation advancements, and new irrigation technology. The best management practices specified in this subparagraph (III), through utilization of the proper landscape design, installation, and irrigation technology, accomplish substantial water savings compared to landscape designs, installation, and irrigation system utilization where these practices are not adhered to. The following best management practices and water budget calculator form the basis for the design and installation for the front yard landscaping option if selected by the homeowner as an upgrade: (A) Xeriscape: To include the seven principles of xeriscape that provide a comprehensive approach for conserving water; (B) Water budgeting: To include either a water allotment by the water utility for the property, if offered by the water utility, or a landscape water budget based on plant water requirements; (C) Landscape design: To include a plan and design for the landscape to comprehensively conserve water and protect water quality; (D) Landscape installation and erosion control: To minimize soil erosion and employ proper soil care and planting techniques during construction; (E) Soil amendment and ground preparation: To include an evaluation of the soil and improve it, if necessary, to address water retention, permeability, water infiltration, aeration, and structure; (F) Tree placement and tree planting: To include proper soil and space for root growth and to include proper planting of trees, shrubs, and other woody plants to promote long-term health of these plants; (G) Irrigation design and installation: To include design of the irrigation system for the efficient and uniform distribution of water to plant material and the development of an irrigation schedule; (H) Irrigation technology and scheduling: To include water conserving devices that stop water application during rain, high wind, and other weather events and incorporate evapotranspiration conditions. Irrigation scheduling should address frequency and duration of water application in the most efficient manner; and (I) Mulching: To include the use of organic mulches to reduce water loss through evaporation, reduce soil loss, and suppress weeds. (IV) Installation of a pressure-reducing valve that limits static service pressure in the residence to a maximum of sixty pounds per square inch. Piping for home fire sprinkler systems shall comply with state and local codes and regulations but are otherwise excluded from this subparagraph (IV). use of organic mulches to reduce water loss through evaporation, reduce soil loss, and suppress weeds. (IV) Installation of a pressure-reducing valve that limits static service pressure in the residence to a maximum of sixty pounds per square inch. Piping for home fire sprinkler systems shall comply with state and local codes and regulations but are otherwise excluded from this subparagraph (IV). (b) The offer required by paragraph (a) of this subsection (1) shall be made in accordance with the builder's construction schedule for the residence. In the case of prefabricated or manufactured homes, "construction schedule" includes the schedule for completion of prefabricated walls or other subassemblies. (2) Nothing in this section precludes a person that builds a new single-family detached residence from: (a) Subjecting water-efficient fixture and appliance upgrades to the same terms and conditions as other upgrades, including charges related to upgrades, deposits required for upgrades, deadlines, and construction timelines; (b) Selecting the contractors that will complete the installation of the selected options; or (c) Stipulating in the purchase agreement or sales contract that water-efficient fixtures and appliances are based on technology available at the time of installation, such upgrades may not support all water-efficient fixtures or appliances installed at a future date, and the person that builds a new single-family detached residence is not liable for any additional upgrades, retrofits, or other alterations to the residence that may be necessary to accommodate water-efficient fixtures or appliances installed at a future date. (3) This section does not apply to unoccupied homes serving as sales inventory or model homes. (4) The upgrades described in paragraph (a) of subsection (1) of this section shall not contravene state or local codes, covenants, and requirements. All homes, landscapes, and irrigation systems shall meet all applicable national, state, and local regulations.

C.R.S. § 38-35.7-108 Disclosure of oil and gas activity - rules

38-35.7-108. Disclosure of oil and gas activity - rules. (1) (a) By January 1, 2016, the real estate commission created in section 12-10-206 shall promulgate a rule requiring each contract of sale or seller's property disclosure for residential real property that is subject to the commission's jurisdiction to disclose the following or substantially similar information: THE SURFACE ESTATE OF THE PROPERTY MAY BE OWNED SEPARATELY FROM THE UNDERLYING MINERAL ESTATE, AND TRANSFER OF THE SURFACE ESTATE MAY NOT INCLUDE TRANSFER OF THE MINERAL ESTATE. THIRD PARTIES MAY OWN OR LEASE INTERESTS IN OIL, GAS, OR OTHER MINERALS UNDER THE SURFACE, AND THEY MAY ENTER AND USE THE SURFACE ESTATE TO ACCESS THE MINERAL ESTATE. THE USE OF THE SURFACE ESTATE TO ACCESS THE MINERALS MAY BE GOVERNED BY A SURFACE USE AGREEMENT, A MEMORANDUM OR OTHER NOTICE OF WHICH MAY BE RECORDED WITH THE COUNTY CLERK AND RECORDER. THE OIL AND GAS ACTIVITY THAT MAY OCCUR ON OR ADJACENT TO THIS PROPERTY MAY INCLUDE, BUT IS NOT LIMITED TO, SURVEYING, DRILLING, WELL COMPLETION OPERATIONS, STORAGE, OIL AND GAS, OR PRODUCTION FACILITIES, PRODUCING WELLS, REWORKING OF CURRENT WELLS, AND GAS GATHERING AND PROCESSING FACILITIES. THE BUYER IS ENCOURAGED TO SEEK ADDITIONAL INFORMATION REGARDING OIL AND GAS ACTIVITY ON OR ADJACENT TO THIS PROPERTY, INCLUDING DRILLING PERMIT APPLICATIONS. THIS INFORMATION MAY BE AVAILABLE FROM THE ENERGY AND CARBON MANAGEMENT COMMISSION. (b) On and after January 1, 2016, each contract of sale or seller's property disclosure for residential real property that is not subject to the real estate commission's jurisdiction must contain a disclosure statement in bold-faced type that is clearly legible in substantially the same form as is specified in paragraph (a) of this subsection (1). (2) The disclosure required by subsection (1) of this section does not create a duty to investigate or disclose that does not otherwise exist for the seller, a person licensed under article 10 of title 12, or a title insurance agent or company licensed under article 2 of title 10.

C.R.S. § 38-35.7-109 Electric vehicle charging and heating systems - options - definitions

38-35.7-109. Electric vehicle charging and heating systems - options - definitions. (1) (a) A person that builds a new residence for which a buyer is under contract shall offer the buyer the opportunity to have the residence's electrical system include one of the following: (I) An electric vehicle charging system; (II) Upgrades of wiring planned by the builder to accommodate future installation of an electric vehicle charging system; or (III) A two-hundred-eight- to two-hundred-forty-volt alternating current plug-in receptacle in an appropriate place accessible to a motor vehicle parking area. (b) A person that builds a new residence for which a buyer is under contract shall offer the buyer the opportunity to have the residence include an efficient electrical heating system, including an electric water heater, electric boiler, or electric furnace or heat-pump system. (c) A person that builds a new residence for which a buyer is under contract shall offer the buyer pricing, energy efficiency, and utility bill information for each natural gas, electric, or other option available from and information pertaining to those options from the federal Energy Star program, as defined in section 6-7.5-102 (24), or similar information about energy efficiency and utilization reasonably available to the person building the residence. (d) Subsection (1)(a) of this section does not apply to a residence in which the electrical system has been substantially installed before a buyer enters into a contract to purchase the residence. Subsection (1)(b) of this section does not apply to a residence in which the heating system has been substantially installed before a buyer enters into a contract to purchase the residence. (2) To comply with this section, the offer required by subsection (1) of this section must be made in accordance with the builder's construction schedule for the residence. (3) Nothing in this section precludes a person that builds a new residence from: (a) Subjecting electric vehicle charging system upgrades to the same terms and conditions as other upgrades, including charges related to upgrades, deposits required for upgrades, deadlines, and construction timelines; (b) Selecting the contractors that will complete the installation of electric vehicle charging system upgrades; (c) Stipulating in the purchase agreement or sales contract that: (I) Electric vehicle charging system upgrades are based on technology available at the time of installation and might not support all electric vehicle charging systems or systems installed in the future; and (II) The person that builds a new residence is not liable for any additional upgrades, retrofits, or other alterations to the residence necessary to accommodate an electric vehicle charging system installed in the future. (4) As used in this section: (a) "Electric vehicle charging system" means: (I) An electric vehicle charging system as defined in section 38-12-601 (6)(a) that has power capacity of at least 6.2 kilowatts, that is Energy Star certified, and that has the ability to connect to the internet; or (II) An inductive residential charging system for battery-powered electric vehicles that is certified by Underwriters Laboratories or an equivalent certification, that complies with the current version of article 625 of the National Electrical Code, published by the National Fire Protection Association, and other applicable industry standards, that is Energy Star certified, and that has the ability to connect to the internet. (b) "Residence" means a single-family owner-occupied detached dwelling. (5) (a) This section applies to contracts entered into on or after September 14, 2020, to purchase new residences built on or after September 14, 2020. (b) This section does not apply to: (I) An unoccupied home serving as sales inventory or a model home; or (II) A manufactured home as defined in section 24-32-3302 (20).

C.R.S. § 38-35.7-110 Disclosure - estimated future property taxes for newly constructed residences within the boundaries of a metropolitan district - rules - definition

38-35.7-110. Disclosure - estimated future property taxes for newly constructed residences within the boundaries of a metropolitan district - rules - definition. (1) As used in this section, "newly constructed residence" means a residential improvement as defined in section 39-1-102 (14.3) that: (a) Has not been previously sold to its intended occupant as a place of residence; and (b) Is located within the territorial boundaries of a metropolitan district. (2) On and after January 1, 2022, each owner of real property that sells real property that includes a newly constructed residence, concurrently with or prior to the execution of a contract to sell the property, shall provide to the purchaser of the property: (a) A paper copy, electronic copy, or a website page link to the notice to electors required by section 32-1-809 (1) as most recently prepared and filed by the metropolitan district; (b) A paper copy, electronic copy, or a website page link to the service plan or statement of purpose of the metropolitan district, including any amendments to the service plan, as filed with the division of local government in the department of local affairs; (c) A statement in writing disclosing that: (I) Pursuant to its service plan, the metropolitan district has authority to issue up to ____ dollars of debt and, if applicable, that the debt of the district may be repaid through ad valorem property taxes, from a debt service mill levy on all taxable property of the district, or any other legally available revenues of the district; (II) The maximum debt service mill levy the metropolitan district is permitted to impose under the service plan is ____ mills or, if no maximum debt service mill levy is specified in the service plan, a statement that there is no maximum debt service mill levy. If applicable, the statement must also disclose whether the debt service mill levy cap may be adjusted due to changes in the constitutional or statutory method of assessing property tax or in the assessment ratio, or by amendments to the service plan or voter authorizations. (III) In addition to imposing a debt service mill levy, the metropolitan district is also authorized to impose a separate mill levy to generate revenues for general operating expenses. If applicable, the statement must also disclose whether the amount of the general operating expenses mill levy may be increased as necessary, separate and apart from the debt service mill levy cap. In the alternative, if the service plan provides for the aggregate mill levy cap for debt service and general operating expenses combined, the statement must address the applicable aggregate mill levy cap. (IV) The metropolitan district may also rely upon various other revenue sources authorized by law to offset its expenses of capital construction and general operating expenses. Pursuant to Colorado law, the district may impose fees, rates, tolls, penalties, or other charges as provided in title 32. The statement must include that a current fee schedule, if applicable, is available from the metropolitan district. olitan district may also rely upon various other revenue sources authorized by law to offset its expenses of capital construction and general operating expenses. Pursuant to Colorado law, the district may impose fees, rates, tolls, penalties, or other charges as provided in title 32. The statement must include that a current fee schedule, if applicable, is available from the metropolitan district. (d) (I) An estimate of the property taxes levied by the metropolitan district that are applicable to the property for collection during the year in which the sale occurs, which estimate must include any debt service mill levies that are specified in subsection (2)(c)(II) of this section and any mill levies for general operating expenses that are specified in subsection (2)(c)(III) of this section, shown both as the total mill levy as well as the total dollar amount that could be collected based upon the purchase price of the property, the residential assessment rate, and mill levies that are in effect in the district at the time of the sale. (II) A seller has complied with subsection (2)(d)(I) of this section if the seller provides to the purchaser the mill levy, the residential assessment ratio, and a formula by which the purchaser may calculate the estimated property taxes on the property for the current year. (e) A copy of the most current certificate of taxes due or tax statement issued by the county treasurer that is applicable to the property as an estimate of the sum of additional mill levies levied by other taxing entities that overlap the property in which the newly constructed residence is located. (3) In disclosing an estimate of property taxes for purposes of satisfying subsection (2)(d)(I) of this section, the seller shall calculate the estimate based upon application of the following assumptions: (a) The purchase price is considered to be the value of the real property including the newly constructed residence as reflected in the contract to purchase the property; (b) The ratio of valuation for assessment is the same as the residential real property assessment ratio set forth in section 39-1-104.2 for the property tax year in which the sale occurs; and (c) The mill levies are the same as those levied by all taxing entities that are applicable to the property for the property tax year in which the sale occurs; except that, if the seller has actual knowledge that the total mill levies will change in the next property tax year, the seller shall use the updated information in making the calculation. (4) Along with the estimate required by subsection (2) of this section, the seller shall include, in bold-faced type that is clearly legible, the following statement: This estimate only provides an illustration of the amount of the new property taxes that may be due and owing after the property has been reassessed and, in some instances, reclassified as residential property. This estimate is not a statement of the actual and future taxes that may be due. First year property taxes may be based on a previous year's tax classification, which may not include the full value of the property and, consequently, taxes may be higher in subsequent years. A seller has complied with this disclosure statement as long as the disclosure is based upon a good-faith effort to provide accurate estimates and information. (5) A seller is deemed to have complied with this section as long as the disclosures required by this section are based upon a good-faith effort to provide accurate estimates and information.

C.R.S. § 38-35.7-111 Disclosure - metropolitan district website - residences within the boundaries of a metropolitan district

38-35.7-111. Disclosure - metropolitan district website - residences within the boundaries of a metropolitan district. On or after January 1, 2024, an owner of residential real property that is located within the boundaries of a metropolitan district organized on or after January 1, 2000, that sells the property shall provide the purchaser of the property with the official website established by the metropolitan district pursuant to section 32-1-104.5 (3). The information shall be provided on the Colorado real estate commission approved seller's property disclosure or other concurrent writing.

C.R.S. § 38-35.7-112 Disclosure - elevated radon - rules - definition

38-35.7-112. Disclosure - elevated radon - rules - definition. (1) A buyer of residential real property has the right to be informed of whether the property has been tested for elevated levels of radon. (2) (a) Each contract of sale for residential real property must contain the following disclosure in bold-faced type that is clearly legible in substantially the same form as is specified as follows: The Colorado Department of Public Health and Environment strongly recommends that ALL home buyers have an indoor radon test performed before purchasing residential real property and recommends having the radon levels mitigated if elevated radon concentrations are found. Elevated radon concentrations can be reduced by a radon mitigation professional. Residential real property may present exposure to dangerous levels of indoor radon gas that may place the occupants at risk of developing radon-induced lung cancer. Radon, a Class A human carcinogen, is the leading cause of lung cancer in nonsmokers and the second leading cause of lung cancer overall. The seller of residential real property is required to provide the buyer with any known information on radon test results of the residential real property. (b) Each contract of sale for residential real property or seller's property disclosure for residential real property must contain the following disclosures: (I) Any knowledge the seller has of the residential real property's radon concentrations, including the following information: (A) Whether a radon test or tests have been conducted on the residential real property; (B) The most recent records and reports pertaining to radon concentrations within the residential real property; (C) A description of any radon concentrations detected or mitigation or remediation performed; and (D) Information regarding whether a radon mitigation system has been installed in the residential real property; and (II) An electronic or paper copy of the most recent brochure published by the department of public health and environment in accordance with section 25-11-114 (2)(a) that provides advice about radon in real estate transactions. (c) The real estate commission shall promulgate rules requiring: (I) Each contract that is for the purchase and sale of residential real property and that is subject to the real estate commission's jurisdiction to include the statement described in subsection (2)(a) of this section in bold-faced type that is clearly legible in substantially the same form as described in subsection (2)(a) of this section; and (II) Each contract for sale or seller's property disclosure for residential real property to include the disclosures described in subsection (2)(b) of this section, including rules that specify the format and manner for delivery of the brochure. (3) As used in this section: (a) "Real estate commission" means the real estate commission created in section 12-10-206. (b) "Residential real property" includes: (I) A single-family home, manufactured home, mobile home, condominium, apartment, townhome, or duplex; or (II) A home sold by the owner, a financial institution, or the United States department of housing and urban development.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-38.docxFetched: 10/6/2026