Colo. Rev. Stat. § 38-30.5-103

Current through Acts effective through 7/1/2024 of the 2024 Legislative Session
Section 38-30.5-103 - [Effective 8/7/2024] Nature of conservation easements in gross
(1) A conservation easement in gross is an interest in real property freely transferable in whole or in part for the purposes stated in section 38-30.5-102 and transferable by any lawful method for the transfer of interests in real property in this state.
(2) A conservation easement in gross shall not be deemed personal in nature and shall constitute an interest in real property notwithstanding that it may be negative in character.
(3) A conservation easement in gross shall be perpetual unless otherwise stated in the instrument creating it.
(4) The particular characteristics of a conservation easement in gross shall be those granted or specified in the instrument creating the easement.
(5) A conservation easement in gross that encumbers water or a water right as permitted by section 38-30.5-104 (1) may be created only by the voluntary act of the owner of the water or water right and may be made revocable by the instrument creating it.
(6) On and after January 1, 2020, prior to creating a conservation easement in gross, the owner of the property who is granting the conservation easement shall execute a disclosure form that includes, but is not limited to, an acknowledgment that the conservation easement is being granted in perpetuity. The division of conservation in cooperation with the conservation easement oversight commission shall develop the disclosure form and publish the approved form on its website. The signed disclosure form must be submitted to the division of conservation as part of the tax credit application.
(7) A conservation easement in gross is a real property interest as defined in section 38-30.5-102 that is to be created, administered, stewarded, enforced, modified, and terminated pursuant to this article 30.5 and, as applicable, section 39-22-522.

C.R.S. § 38-30.5-103

Amended by 2024 Ch. 211,§ 6, eff. 8/7/2024.
Amended by 2019 Ch. 420, § 6, eff. 6/30/2019.
L. 76: Entire article added, p. 751, § 1, effective July 1. L. 2003: (5) added, p. 990, § 2, effective August 6. L. 2019: (6) added, (HB 19-1264), ch. 3678, p. 3678, § 6, effective June 30.
2024 Ch. 211, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.