303-776-9900When daffodils pop up, so do the “for sale” signs on the ranch and mountain properties. Whether you are buying your forever property or your just-for-now property, be sure to conduct water rights due diligence. Water rights are complicated, and you need to protect your investment with the following steps. Initially, ponder “What do I […]
News and Insights
“Use it or lose it” is often colloquially used to describe the prior appropriation doctrine for water rights in Colorado. Nowhere is that phrase more accurate than when it comes to the decennial abandonment list. CRS § 37-92-401(1)(a) requires the Division Engineer to maintain a tabulation of water rights and priorities in their Water Division, […]
Since the passage of the 2007 Farm Bill, buyers and sellers of certain water rights have enjoyed the ability to use tax deferred exchanges under Section 1031 of the Internal Revenue Code. Recent changes to the tax code, however, deleted any reference to mutual ditch or irrigation company stock from the definintion of qualifying “like […]
