The bill mandates the state engineer to explore whether there should be restrictions on transferring so-called 'residential related water interests' during property conveyance. This includes examining the current practices of reserving or conveying water interests as part of property transfers, and whether additional requirements should be imposed on water suppliers to protect residents from losing access to culinary water when properties are sold.
Summary
House Bill 0524, titled 'Water Interests Study', aims to address issues surrounding the conveyance of water interests relating to residential buildings in Utah. The bill requires the state engineer to conduct a study focusing on how water interests tied to land are transferred especially when that land is associated with a residential building. The bill seeks to clarify definitions related to water interests, residential buildings, and water suppliers to ensure a comprehensive understanding of these rights and their implications for residents.
Contention
One of the notable points of contention revolves around the implications for residents and potential restrictions on property rights. Concerns may arise regarding the limitations that could be placed on property owners’ abilities to sell or convey land with tied water rights. Further, the findings from the study conducted by the state engineer will influence future legislation and policies regarding water rights, particularly how these interests are managed in relation to residential properties.
Provides forbearance of residential mortgage foreclosures under certain circumstances; places additional requirements on attorneys, residential mortgage lenders, and courts, as part of foreclosure process.
Provides forbearance of residential mortgage foreclosures under certain circumstances; places additional requirements on attorneys, residential mortgage lenders, and courts, as part of foreclosure process.