Title |
Limitation of Actions Against Appraisers |
Status |
House Committee on Business Affairs & Labor Refer Unamended to House Committee of the Whole (04/03/2025) |
Bill Subjects |
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House Sponsors |
R. Weinberg (R) C. Clifford (D) |
Senate Sponsors |
D. Michaelson Jenet (D) L. Frizell (R) |
House Committee |
Business Affairs and Labor |
Senate Committee |
Business, Labor and Technology |
Date Introduced |
01/08/2025 |
AI Summary |
The proposed legislation, Senate Bill 25-035, seeks to establish specific timeframes for initiating legal actions against real estate appraisers in Colorado. This bill aims to provide clarity and consistency regarding the statute of limitations for such claims.
Key Provisions:
By defining these time limits, the bill aims to balance the rights of claimants with the need for legal certainty for professionals in the real estate appraisal industry.
|
Summary |
Under current law, the statute of limitations to bring certain claims
against a real estate appraiser does not start until the party filing the claim has discovered, or should have discovered, an alleged defect in the appraisal.
The bill requires a claimant to bring an action against a real estate
appraiser or individual performing a real estate appraisal practice within
5 years after the date the appraisal report is completed and transmitted to a client. The 5-year statute of limitations does not apply to an action for fraud, for misrepresentation, or for a discriminatory housing practice brought against a real estate appraiser or individual performing a real estate appraisal practice.
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Committee Reports with Amendments |
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Full Text
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Full Text of Bill (pdf) (most recent) |
Fiscal Notes |
Fiscal Notes (01/22/2025) (most recent)
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Additional Bill Documents |
Bill Documents Including:
- Past bill versions
- Past fiscal notes
- Committee activity and documents
- Bill History
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Lobbyists |
Lobbyists |
Audio |
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Votes |
House and Senate Votes |
Vote Totals |
Vote Totals by Party |