First Regular Session
Seventy-fifth General Assembly
STATE OF COLORADO
INTRODUCED
LLS NO. 25-0368.01 Anna Petrini x5497
SENATE BILL 25-035
Senate Committees House Committees
Business, Labor, & Technology
A BILL FOR AN ACT
C
ONCERNING ESTABLISHING A LIMITA TION OF ACTIONS AGAINST AN101
INDIVIDUAL PERFORMING A REAL ESTATE APPRAISAL PRACTICE .102
Bill Summary
(Note: This summary applies to this bill as introduced and does
not reflect any amendments that may be subsequently adopted. If this bill
passes third reading in the house of introduction, a bill summary that
applies to the reengrossed version of this bill will be available at
http://leg.colorado.gov
.)
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
SENATE SPONSORSHIP
Frizell and Michaelson Jenet, Amabile
HOUSE SPONSORSHIP
Clifford and Weinberg,
Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
Capital letters or bold & italic numbers indicate new material to be added to existing law.
Dashes through the words or numbers indicate deletions from existing law. 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.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. In Colorado Revised Statutes, add 13-80-105.5 as2
follows:3
13-80-105.5. Limitation of actions against a real estate4
appraiser - definitions. (1) N
OTWITHSTANDING ANY STATUTORY5
PROVISION TO THE CONTRARY , AN ACTION AGAINST A REAL ESTATE6
APPRAISER OR INDIVIDUAL PERFORMING A REAL ESTATE APPRAISAL7
PRACTICE MUST BE BROUGHT WITHIN FIVE YEARS AFTER THE DATE OF8
REPORT.9
(2) N
OTWITHSTANDING ANY STATUTORY PROVISION TO THE10
CONTRARY, AN ACTION FOR FRAUD OR KNOWING AND INTENTIONAL11
MISREPRESENTATION BROUGHT AGAINST A REAL ESTATE APPRAISER OR AN12
INDIVIDUAL PERFORMING A REAL ESTATE APPRAISAL PRACTICE MUST BE13
BROUGHT WITHIN THE TIME PROVIDED IN SECTION 13-80-101.14
(3) N
OTWITHSTANDING ANY STATUTORY PROVISION TO THE15
CONTRARY, AN ACTION FOR A DISCRIMINATORY HOUSING PRACTICE16
BROUGHT AGAINST A REAL ESTATE APPRAISER OR AN INDIVIDUAL17
PERFORMING A REAL ESTATE APPRAISAL PRACTICE MUST BE BROUGHT18
WITHIN THE TIME PROVIDED IN PART 5 OF ARTICLE 34 OF TITLE 24 OR IN19
APPLICABLE FEDERAL LAW.20
(4) A
S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE21
REQUIRES:22
(a) "D
ATE OF REPORT" MEANS THE DATE WHEN AN APPRAISAL23
SB25-035-2- REPORT IS COMPLETED AND TRANSMITTED TO THE CLIENT .1
(b) "R
EAL ESTATE APPRAISAL PRACTICE " MEANS REAL ESTATE2
VALUATION SERVICES PERFORMED BY AN INDIVIDUAL ACTING AS AN3
APPRAISER, INCLUDING, BUT NOT LIMITED TO, APPRAISAL AND APPRAISAL4
REVIEW.5
SECTION 2. Act subject to petition - effective date. This act6
takes effect at 12:01 a.m. on the day following the expiration of the7
ninety-day period after final adjournment of the general assembly; except8
that, if a referendum petition is filed pursuant to section 1 (3) of article V9
of the state constitution against this act or an item, section, or part of this10
act within such period, then the act, item, section, or part will not take11
effect unless approved by the people at the general election to be held in12
November 2026 and, in such case, will take effect on the date of the13
official declaration of the vote thereon by the governor.14
SB25-035
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