First Regular Session
Seventy-fifth General Assembly
STATE OF COLORADO
REREVISED
This Version Includes All Amendments
Adopted in the Second House
LLS NO. 25-0368.01 Anna Petrini x5497
SENATE BILL 25-035
Senate Committees House Committees
Business, Labor, & Technology Business Affairs & Labor
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
HOUSE
3rd Reading Unamended
April 14, 2025
HOUSE
2nd Reading Unamended
April 11, 2025
SENATE
3rd Reading Unamended
February 25, 2025
SENATE
Amended 2nd Reading
February 24, 2025
SENATE SPONSORSHIP
Frizell and Michaelson Jenet, Amabile, Mullica
HOUSE SPONSORSHIP
Clifford and Weinberg, Bradley, Gonzalez R., Keltie
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) (a) T
HE LIMITATION SET FORTH IN SUBSECTION (1) OF THIS
10
SECTION DOES NOT APPLY TO AN ACTION AGAINST A REAL ESTATE11
APPRAISER OR INDIVIDUAL PERFORMING A REAL ESTATE APPRAISAL12
PRACTICE IF THE ACTION IS BROUGHT BY:13
(I) A
CONSUMER WHO IS AN ORIGINAL PARTY TO THE RESIDENTIAL
14
MORTGAGE LOAN OR RESIDENTIAL REAL ESTATE TRANSACTION FOR WHICH15
THE REAL ESTATE APPRAISER OR INDIVIDUAL PERFORMING A REAL ESTATE16
APPRAISAL PRACTICE COMPLETED AN APPRAISAL REPORT OR PERFORMED17
AN APPRAISAL SERVICE THAT FORMS THE BASIS OF THE ACTION ; OR18
(II) A
MORTGAGE ORIGINATOR WHO MUST REPURCHASE A LOAN
19
FROM AN ENTITY HOLDING THE LOAN OR THE MORTGAGE SECURITY , AND20
A DEFECT IN THE COMPLETED APPRAISAL REPORT OR THE APPRAISAL21
SERVICE PERFORMED AS PART OF THE MORTGAGE ORIGINATION PROCESS22
FORMS THE BASIS OF THE ACTION.23
035-2- (b) SUBSECTION (2)(a)(I) OF THIS SECTION DOES NOT CREATE A1
NEW PRIVATE RIGHT OF ACTION.2
(3) NOTWITHSTANDING ANY STATUTORY PROVISION TO THE3
CONTRARY, AN ACTION FOR FRAUD OR KNOWING AND INTENTIONAL4
MISREPRESENTATION BROUGHT AGAINST A REAL ESTATE APPRAISER OR AN5
INDIVIDUAL PERFORMING A REAL ESTATE APPRAISAL PRACTICE MUST BE6
BROUGHT WITHIN THE TIME PROVIDED IN SECTION 13-80-101.7
(4) NOTWITHSTANDING ANY STATUTORY PROVISION TO THE8
CONTRARY, AN ACTION FOR A DISCRIMINATORY HOUSING PRACTICE9
BROUGHT AGAINST A REAL ESTATE APPRAISER OR AN INDIVIDUAL10
PERFORMING A REAL ESTATE APPRAISAL PRACTICE MUST BE BROUGHT11
WITHIN THE TIME PROVIDED IN PART 5 OF ARTICLE 34 OF TITLE 24 OR IN12
APPLICABLE FEDERAL LAW.13
(5) AS USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE14
REQUIRES:15
(a) "D
ATE OF REPORT" MEANS THE DATE WHEN AN APPRAISAL16
REPORT IS COMPLETED AND TRANSMITTED TO THE CLIENT .17
(b) "R
EAL ESTATE APPRAISAL PRACTICE " MEANS REAL ESTATE18
VALUATION SERVICES PERFORMED BY AN INDIVIDUAL ACTING AS AN19
APPRAISER, INCLUDING, BUT NOT LIMITED TO, APPRAISAL AND APPRAISAL20
REVIEW.21
SECTION 2. Act subject to petition - effective date. This act22
takes effect at 12:01 a.m. on the day following the expiration of the23
ninety-day period after final adjournment of the general assembly; except24
that, if a referendum petition is filed pursuant to section 1 (3) of article V25
of the state constitution against this act or an item, section, or part of this26
act within such period, then the act, item, section, or part will not take27
035
-3- effect unless approved by the people at the general election to be held in1
November 2026 and, in such case, will take effect on the date of the2
official declaration of the vote thereon by the governor.3
035
-4-