Commentary and Analysis Regarding Colorado Law

Colorado has four statutory deeds: General Warranty Deed, Special Warranty Deed, Quit Claim Deed, and Bargain and Sale Deed. Historically, General Warranty Deeds were the most prevalent and preferred since they grant the broadest protection for buyers as their sellers are warranting the title to the real property since the beginning of time. Special Warranty Deeds limit the warranty of title to the period that the seller owned the real property. Quit Claim Deeds give no warranty of title – the buyer gets only what the seller had at the time the deed is signed. Bargain and Sale Deeds also offer no warranty of title but do transfer the title to the seller at that point in time as well as title that the seller acquires after the date of the Bargain and Sale deed.

Then in 2019, Colorado enacted a new statute that allowed deeds to be subject to “Statutory Exceptions” which are composed of

Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on landlords and tenants who are dealing with closures and other challenges in response to recommended or mandated social distancing measures in the wake of the spreading coronavirus

Colorado real estate practitioners have seen the addition of oil and gas notification provisions in the real estate approved forms for the purchase and sale of real property.  In bold face type, the buyer is warned that the surface estate may be owned separately from the underlying mineral estate and that the purchase of the surface may not include the minerals.  The buyer is further advised so that there may be a surface use agreement in place, that there may be oil and gas activity on the property or on adjacent property and that it is advisable to seek out additional information from the COGCC.  As of January 1, 2016, these disclosures were mandated by statute to be part of all residential purchase and sale contracts, i.e., not only in those approved by the Colorado Real Estate Commission.  For recommended language, see:  http://codes.findlaw.com/co/title-38-property-real-and-personal/co-rev-st-sect-38-35-7-108.html

Have You Heard?

Public Benefit Corporations
Submitted by Suzan D. Fritchel
Beginning in April, 2014, Colorado will have a new business entity: the Public Benefit Corporation.

The Colorado State Legislature recently passed a bill authorizing a new form of business entity called the Public Benefit Corporation. This new entity will be “for profit,” but the board of directors must balance the best interests of the corporation and shareholders (maximization of profits) with the “public benefits” as stated in its articles of incorporation. Examples of possible public benefits identified by an entity would include charitable, cultural, educational, environmental or religious goals. Contact us for guidance in this new area of business operation.