Property - Digest of Bills

Digest of Bills - 1997

PROPERTY

S.B. 97-2 Land survey plats - preparation requirements - corrections in definitions. Eliminates the requirement that a land survey plat be prepared each time a land survey monument is set in a subdivision that was platted after July 1, 1975.

Corrects 2 references to the term "plat" contained in the "Colorado Common Interest Ownership Act" so that the references refer to the appropriate section defining a "plat" rather than to a section concerning the monumentation of subdivisions.

APPROVED by Governor March 28, 1997
EFFECTIVE March 28, 1997

H.B. 97-1016 Recording of instruments conveying real property to public entities. Requires all instruments conveying the title of real property to the state or a political subdivision to be recorded with the office of the clerk and recorder of the county in which such real property is situated within 30 days of such conveyance. If the state or a political subdivision fails to record any such instrument, requires the state or the political subdivision to pay the amount of interest incurred by the county when a tax lien is sold on land upon which no tax was due. Requires the executive director of the appropriate state department or the appropriate official designated by a political subdivision to perform such recording.

APPROVED by Governor March 20, 1997
EFFECTIVE July 1, 1997

H.B. 97-1052 Lending institutions - notification of borrower tax status - appropriation. Authorizes lending institutions to receive notification when a borrower is delinquent in the payment of sales and use tax, withholding tax, special fuels tax, gas tax, or aviation fuel tax and a distraint warrant has been issued. Requires the borrower's signed consent to any such notification.

Authorizes the department of revenue to promulgate rules concerning the provision of information to lending institutions, including the establishment and periodic adjustment of a filing fee. Requires that such filing fee cover programming and other administrative costs incurred by the department in implementing this provision. Specifies that the department may adjust the filing fee at any time and not necessarily at the beginning of the year. Establishes the tax delinquency notification fund and requires that filing fees paid to the department of revenue be credited to such fund.

Appropriates $20,225 to the department of revenue for the implementation of this act.

APPROVED by Governor May 27, 1997
EFFECTIVE July 1, 1997

H.B. 97-1143 Spurious liens and documents - effectiveness - remedies. Defines a spurious lien as one not authorized by statute, not agreed to by the owner of the property, or not imposed by order of an authorized state or federal court. Defines a spurious document as one that is forged, groundless, fraudulent, or otherwise patently invalid. Authorizes any state or local employee to either accept or reject for recording or filing any spurious lien or spurious document. Relieves any state or local employee from liability for either accepting or rejecting for recording or filing any document the employee believes in good faith to be a spurious lien or spurious document.

Limits the validity of any spurious lien or spurious document to 30 days after its recording or filing. Authorizes a new procedure for an action to declare a spurious lien or spurious document invalid. Describes the requirements for an order to show cause under the new procedure. Requires the court to enter judgment for costs, including reasonable attorney fees, in favor of the prevailing party in such an action.

Allows title insurance companies not to disclose to proposed insureds the existence of spurious liens, spurious documents, or other documents that do not encumber or are not an impairment of the record of the property proposed to be insured.

APPROVED by Governor March 20, 1997
EFFECTIVE March 20, 1997