reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 2 - BROKERS AND SALESPERSONS (§§ 12-10-201 — 12-10-227) › Section 12-10-220.5 - Radon disclosure - rules

The commission shall promulgate rules to implement section
38-35.7-112 (2)(c)
.
Added by 2023 Ch. 356,§ 5, eff. 8/7/2023.
2023 Ch. 356, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 2 - BROKERS AND SALESPERSONS (§§ 12-10-201 — 12-10-227) › Section 12-10-221 - Broker remuneration

It is unlawful for a real estate broker registered in the commission office as in the employ of another broker to accept a commission or valuable consideration for the performance of any of the acts specified in this part 2 from any person except the broker's employer, who shall be a licensed real estate broker.
Renumbered from C.R.S. §
12-61-117
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
L. 25: p. 432, § 12. CSA: C. 15, § 38. CRS 53: § 117-1-11. L. 63: p. 769, § 9. C.R.S. 1963: § 117-1-11. L. 91: Entire section amended, p. 1633, § 13, effective July 1. L. 2008: Entire section amended, p. 507, § 17, effective April 17.
This section is similar to former § 12-61-117 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 2 - BROKERS AND SALESPERSONS (§§ 12-10-201 — 12-10-227) › Section 12-10-222 - Acts of third parties - broker's liability

Any unlawful act or violation of any of the provisions of this part 2 upon the part of an employee, officer, or member of a licensed real estate broker shall not be cause for disciplinary action against a real estate broker, unless it appears to the satisfaction of the commission that the real estate broker had actual knowledge of the unlawful act or violation or had been negligent in the supervision of employees.
Renumbered from C.R.S. §
12-61-118
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
L. 25: p. 436, § 17. CSA: C. 15, § 43. CRS 53: § 117-1-16. L. 63: p. 774, § 13. C.R.S. 1963: § 117-1-16. L. 75: Entire section amended, p. 523, § 16, effective July 16. L. 89: Entire section amended, p. 737, § 8, effective July 1. L. 91: Entire section amended, p. 1633, § 14, effective July 1. L. 2008: Entire section amended, p. 507, § 18, effective April 17.
This section is similar to former § 12-61-118 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 2 - BROKERS AND SALESPERSONS (§§ 12-10-201 — 12-10-227) › Section 12-10-223 - Violations

Any natural person, firm, partnership, limited liability company, association, or corporation violating the provisions of this part 2 by acting as real estate broker in this state without having obtained a license or by acting as real estate broker after the broker's license has been revoked or during any period for which the license may have been suspended commits a class 2 misdemeanor.
Amended by 2021 Ch. 462,§ 134, eff. 3/1/2022.
Renumbered from C.R.S. §
12-61-119
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
(1) This section is similar to former § 12-61-119 as it existed prior to 2019.
(2) Section 803(2) of chapter 462 (SB 21-271), Session Laws of Colorado 2021, provides that the act changing this section applies to offenses committed on or after March 1, 2022.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 2 - BROKERS AND SALESPERSONS (§§ 12-10-201 — 12-10-227) › Section 12-10-224 - Subpoena compelling attendance of witnesses and production of records and documents

The commission, the director, or the administrative law judge appointed for hearings may issue a subpoena compelling the attendance and testimony of witnesses and the production of books, papers, or records pursuant to an investigation or hearing of the commission. The subpoenas shall be served in the same manner as subpoenas issued by district courts and shall be issued without discrimination between public or private parties requiring the attendance of witnesses and the production of documents at hearings. If a person fails or refuses to obey a subpoena issued by the commission, the director, or the appointed administrative law judge, the commission may petition the district court having jurisdiction for issuance of a subpoena in the premises, and the court shall, in a proper case, issue its subpoena. Any person who refuses to obey a subpoena shall be punished as provided in section
12-10-225
.
Renumbered from C.R.S. §
12-61-120
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
L. 79: Entire section added, p. 565, § 11, effective May 31. L. 87: Entire section amended, p. 951, § 52, effective March 13.
This section is similar to former § 12-61-120 as it existed prior to 2019.
For the Colorado rule of civil procedure concerning subpoenas, see C.R.C.P. 45.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 2 - BROKERS AND SALESPERSONS (§§ 12-10-201 — 12-10-227) › Section 12-10-225 - Failure to obey subpoena - penalty

Any person who willfully fails or neglects to appear and testify or to produce books, papers, or records required by subpoena, duly served upon him or her in any matter conducted under parts 2 and 5 of this article 10, commits a petty offense. Each day a person so refuses or neglects constitutes a separate offense.
Amended by 2021 Ch. 462,§135, eff. 3/1/2022.
Renumbered from C.R.S. §
12-61-121
and amended by 2019 Ch. 136,§1, eff. 10/1/2019.
Amended by 2017 Ch. 264,§24, eff. 5/25/2017.
(1) This section is similar to former § 12-61-121 as it existed prior to 2019.
(2) Section 803(2) of chapter 462 (SB 21-271), Session Laws of Colorado 2021, provides that the act changing this section applies to offenses committed on or after March 1, 2022.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 2 - BROKERS AND SALESPERSONS (§§ 12-10-201 — 12-10-227) › Section 12-10-226 - Powers of commission - injunctions

The commission may apply to a court of competent jurisdiction for an order enjoining any act or practice that constitutes a violation of parts 2 and 5 of this article 10, and, upon a showing that a person is engaging or intends to engage in any such act or practice, an injunction, restraining order, or other appropriate order shall be granted by the court regardless of the existence of another remedy therefor. Any notice, hearing, or duration of any injunction or restraining order shall be made in accordance with the provisions of the Colorado rules of civil procedure.
Renumbered from C.R.S. §
12-61-122
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
Amended by 2017 Ch. 264,§ 25, eff. 5/25/2017.
L. 83: Entire section added, p. 590, § 6, effective April 26. L. 89: Entire section amended, p. 737, § 10, effective July 1. L. 2017: Entire section amended, (SB 17-294), ch. 264, p. 1390, § 25, effective May 25.
This section is similar to former § 12-61-122 as it existed prior to 2019.
For the Colorado rule of civil procedure concerning injunctions, see C.R.C.P. 65.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 2 - BROKERS AND SALESPERSONS (§§ 12-10-201 — 12-10-227) › Section 12-10-227 - Repeal of part - subject to review

This part 2 is repealed, effective September 1, 2026. Before the repeal, the division, including the commission, is scheduled for review in accordance with section
24-34-104
.
Renumbered from C.R.S. §
12-61-123
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
Amended by 2017 Ch. 282,§ 1, eff. 6/30/2017.
L. 91: Entire section added, p. 685, § 41, effective April 20. L. 99: Entire section amended, p. 717, § 7, effective July 1. L. 2004: Entire section amended, p. 349, § 13, effective July 1. L. 2008: Entire section amended, p. 496, § 1, effective April 17. L. 2017: Entire section amended, (SB 17-215), ch. 282, p. 1534, § 1, effective June 30.
This section is similar to former § 12-61-123 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 3 - BROKERS' COMMISSIONS (§§ 12-10-301 — 12-10-305) › Section 12-10-301 - When entitled to commission

No real estate agent or broker is entitled to a commission for finding a purchaser who is ready, willing, and able to complete the purchase of real estate as proposed by the owner until the same is consummated or is defeated by the refusal or neglect of the owner to consummate the same as agreed upon.
Renumbered from C.R.S. §
12-61-201
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
L. 15: p. 397, § 1. C.L. § 4852. CSA: C. 15, § 25. CRS 53: § 117-2-1. C.R.S. 1963: § 117-2-1.
This section is similar to former § 12-61-201 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 3 - BROKERS' COMMISSIONS (§§ 12-10-301 — 12-10-305) › Section 12-10-302 - Objections on account of title

No real estate agent or broker is entitled to a commission when a proposed purchaser fails or refuses to complete his or her contract of purchase because of defects in the title of the owner, unless the owner, within a reasonable time, has the defects corrected by legal proceedings or otherwise.
Renumbered from C.R.S. §
12-61-202
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
L. 15: p. 397, § 2. C.L. § 4853. CSA: C. 15, § 26. CRS 53: § 117-2-2. C.R.S. 1963: § 117-2-2.
This section is similar to former § 12-61-202 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 3 - BROKERS' COMMISSIONS (§§ 12-10-301 — 12-10-305) › Section 12-10-303 - When owner must perfect title

The owner shall not be required to begin legal or other proceedings for the correction of a title until the agent or broker secures from the proposed purchaser an enforceable contract in writing, binding him or her to complete the purchase whenever the defects in the title are corrected.
Renumbered from C.R.S. §
12-61-203
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
L. 15: p. 397, § 3. C.L. § 4854. CSA: C. 15, § 27. CRS 53: § 117-2-3. C.R.S. 1963: § 117-2-3.
This section is similar to former § 12-61-203 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 3 - BROKERS' COMMISSIONS (§§ 12-10-301 — 12-10-305) › Section 12-10-304 - Referral fees - conformity with federal law required - remedies for violation - definitions

(1)
A person licensed under part 2, 3, or 5 of this article 10 shall not pay or receive a referral fee except in accordance with the federal "Real Estate Settlement Procedures Act of 1974", as amended,
12 U.S.C. sec. 2601
et seq., and unless reasonable cause for payment of the referral fee exists. A reasonable cause for payment means:
(a)
An actual introduction of business has been made;
(b)
A contractual referral fee relationship exists; or
(c)
A contractual cooperative brokerage relationship exists.
(2)
(a)
No person shall interfere with the brokerage relationship of a licensee.
(b)
As used in this subsection (2):
(I)
"Brokerage relationship" means a relationship entered into between a broker and a buyer, seller, landlord, or tenant under which the broker engages in any of the acts set forth in section
12-10-201(6)
. A brokerage relationship is not established until a written brokerage agreement is entered into between the parties or is otherwise established by law.
(II)
"Interfere with the brokerage relationship" means demanding a referral fee from a licensee without reasonable cause.
(III)
"Referral fee" means any fee paid by a licensee to any person or entity, other than a cooperative commission offered by a listing broker to a selling broker or vice versa.
(3)
Any person aggrieved by a violation of any provision of this section may bring a civil action in a court of competent jurisdiction. The prevailing party in any such action shall be entitled to actual damages and, in addition, the court may award an amount up to three times the amount of actual damages sustained as a result of any such violation plus reasonable attorney fees.
Renumbered from C.R.S. §
12-61-203.5
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
Amended by 2017 Ch. 282,§ 10, eff. 6/30/2017.
L. 99: Entire section added, p. 308, § 1, effective April 15. L. 2008: (2)(b)(I) amended, p. 508, § 20, effective April 17. L. 2017: IP(1) amended, (SB 17-215), ch. 282, p. 1538, § 10, effective June 30.
This section is similar to former § 12-61-203.5 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 3 - BROKERS' COMMISSIONS (§§ 12-10-301 — 12-10-305) › Section 12-10-305 - Repeal of part - subject to review

This part 3 is repealed, effective September 1, 2026. Before the repeal, this part 3 is scheduled for review in accordance with section
24-34-104
.
Renumbered from C.R.S. §
12-61-204
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
Amended by 2017 Ch. 282,§ 2, eff. 6/30/2017.
L. 91: Entire section added, p. 685, § 42, effective April 20. L. 99: Entire section amended, p. 717, § 8, effective July 1. L. 2008: Entire section amended, p. 515, § 40, effective April 17. L. 2017: Entire section amended, (SB 17-215), ch. 282, p. 1534, § 2, effective June 30.
This section is similar to former § 12-61-204 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 4 - BROKERAGE RELATIONSHIPS (§§ 12-10-401 — 12-10-411) › Section 12-10-401 - Legislative declaration

(1)
The general assembly finds, determines, and declares that the public will best be served through a better understanding of the public's legal and working relationships with real estate brokers and by being able to engage any such real estate broker on terms and under conditions that the public and the real estate broker find acceptable. This includes engaging a broker as a single agent or transaction-broker. Individual members of the public should not be exposed to liability for acts or omissions of real estate brokers that have not been approved, directed, or ratified by the individuals. Further, the public should be advised of the general duties, obligations, and responsibilities of the real estate broker they engage.
(2)
This part 4 is enacted to govern the relationships between real estate brokers and sellers, landlords, buyers, and tenants in real estate transactions.
Renumbered from C.R.S. §
12-61-801
and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.
L. 93: Entire part added, p. 979, § 1, effective 1/1/1994. L. 2002: (1) amended, p. 1056, § 1, effective 1/1/2003.
This section is similar to former § 12-61-801 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 4 - BROKERAGE RELATIONSHIPS (§§ 12-10-401 — 12-10-411) › Section 12-10-402 - Definitions

As used in this part 4, unless the context otherwise requires:
(1)
"Broker" shall have the same meaning as set forth in section
12-10-201 (6)
, except as otherwise specified in this part 4.
(2)
"Customer" means a party to a real estate transaction with whom the broker has no brokerage relationship because the party has not engaged or employed a broker.
(3)
(a)
"Designated broker" means an employing broker or employed broker who is designated in writing by an employing broker to serve as a single agent or transaction-broker for a seller, landlord, buyer, or tenant in a real estate transaction.
(b)
"Designated broker" does not include a real estate brokerage firm that consists of only one licensed natural person.
(4)
"Dual agent" means a broker who, with the written informed consent of all parties to a contemplated real estate transaction, is engaged as a limited agent for both the seller and buyer or both the landlord and tenant.
(5)
"Limited agent" means an agent whose duties and obligations to a principal are only those set forth in section
12-10-404
or
12-10-405
, with any additional duties and obligations agreed to pursuant to section
12-10-403 (5)
.
(6)
"Single agent" means a broker who is engaged by and represents only one party in a real estate transaction. A single agent includes the following:
(a)
"Buyer's agent", which means a broker who is engaged by and represents the buyer in a real estate transaction;
(b)
"Landlord's agent", which means a broker who is engaged by and represents the landlord in a leasing transaction;
(c)
"Seller's agent", which means a broker who is engaged by and represents the seller in a real estate transaction; and
(d)
"Tenant's agent", which means a broker who is engaged by and represents the tenant in a leasing transaction.
(7)
"Subagent" means a broker engaged to act for another broker in performing brokerage tasks for a principal. The subagent owes the same obligations and responsibilities to the principal as does the principal's broker.
(8)
"Transaction-broker" means a broker who assists one or more parties throughout a contemplated real estate transaction with communication, interposition, advisement, negotiation, contract terms, and the closing of the real estate transaction without being an agent or advocate for the interests of any party to the transaction. Upon agreement in writing pursuant to section
12-10-403 (2)
or a written disclosure pursuant to section
12-10-408 (2)(c)
, a transaction-broker may become a single agent.
Renumbered from C.R.S. §
12-61-802
and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.
L. 93: Entire part added, p. 979, § 1, effective 1/1/1994. L. 2002: (1.3) and (1.5) added and (3) and (6) amended, p. 1056, § 2, effective 1/1/2003. L. 2008: (1) amended, p. 508, § 23, effective April 17.
This section is similar to former § 12-61-802 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 4 - BROKERAGE RELATIONSHIPS (§§ 12-10-401 — 12-10-411) › Section 12-10-403.5 - Broker engagement contracts - residential premises - prohibited terms - definition

(1)
As used in this section, unless the context otherwise requires, "broker engagement contract" means a written contract in which a seller, buyer, landlord, or tenant of a residential premises becomes the client of a broker or agrees to retain the services of a broker in the future and promises to pay the broker a valuable consideration or agrees that the broker may receive a valuable consideration from another person in exchange for the broker:
(a)
Producing a seller, buyer, tenant, or landlord ready, able, and willing to sell, buy, or rent the residential premises; or
(b)
Performing other services.
(2)
A broker engagement contract must not:
(a)
Purport to be a covenant running with the land or to be binding on future owners of interests in the real property;
(b)
Allow for assignment of the right to provide service without notice and agreement of the owner of the residential premises; or
(c)
Purport to create a recordable lien, encumbrance, or other real property security interest. Any such lien, encumbrance, or other real property security interest is void and unenforceable.
(3)
A person who offers to a consumer a broker engagement contract that includes a provision in violation of subsection (2) of this section commits an unfair or deceptive trade practice, as provided in section
6-1-105 (1)(uuu)
.
(4)
This section does not apply to:
(a)
A home warranty service contract, as defined in section
12-10-901 (2)(a)
;
(b)
A building warranty or similar product that covers the cost of maintenance of a major housing or building system, such as a plumbing or an electrical system, for a specific period of time after the date on which a house or building is sold;
(c)
An insurance contract;
(d)
An option to purchase, a put requirement to purchase, a right of first offer, or a right of refusal;
(e)
A declaration created in the formation of a common interest community, as defined in section
38-33.3-103 (8)
, or an amendment to the declaration;
(f)
A maintenance or repair agreement entered into by a unit owners' association, as defined in section
38-33.3-103 (3)
;
(g)
A loan or a commitment to make or receive a loan, which loan or commitment is secured by real estate;
(h)
A security agreement under the "Uniform Commercial Code" relating to the sale or rental of personal property or fixtures;
(i)
Water, sewer, electrical, telephone, cable, or other regulated utility service providers; or
(j)
A property management agreement by which the owner of real property contracts with a party to provide management services for the maintenance, ownership, operation, or lease of a residential premises.
Added by 2023 Ch. 50, § 1, eff. 8/7/2023.
2023 Ch. 50, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 4 - BROKERAGE RELATIONSHIPS (§§ 12-10-401 — 12-10-411) › Section 12-10-406 - Dual agent

A broker shall not establish dual agency with any seller, landlord, buyer, or tenant.
Renumbered from C.R.S. §
12-61-806
and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.
L. 93: Entire part added, p. 985, § 1, effective 1/1/1994. L. 2002: Entire section amended, p. 1060, § 6, effective 1/1/2003.
This section is similar to former § 12-61-806 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 4 - BROKERAGE RELATIONSHIPS (§§ 12-10-401 — 12-10-411) › Section 12-10-409 - Duration of relationship

(1)
(a)
The relationships set forth in this part 4 shall commence at the time that the broker is engaged by a party and shall continue until performance or completion of the agreement by which the broker was engaged.
(b)
If the agreement by which the broker was engaged is not performed or completed for any reason, the relationship shall end at the earlier of the following:
(I)
Any date of expiration agreed upon by the parties;
(II)
Any termination or relinquishment of the relationship by the parties; or
(III)
One year after the date of the engagement.
(2)
(a)
Except as otherwise agreed to in writing and pursuant to subsection (2)(b) of this section, a broker engaged as a seller's agent or buyer's agent owes no further duty or obligation after termination or expiration of the contract or completion of performance.
(b)
Notwithstanding subsection (2)(a) of this section, a broker shall be responsible after termination or expiration of the contract or completion of performance for the following:
(I)
Accounting for all money and property related to and received during the engagement; and
(II)
Keeping confidential all information received during the course of the engagement that was made confidential by request or instructions from the engaging party unless:
(A)
The engaging party grants written consent to disclose the information;
(B)
Disclosure of the information is required by law; or
(C)
The information is made public or becomes public by the words or conduct of the engaging party or from a source other than the broker.
(3)
Except as otherwise agreed to in writing, a transaction-broker owes no further obligation or responsibility to the engaging party after termination or expiration of the contract for performance or completion of performance; except that the broker shall account for all money and property related to and received during the engagement.
Renumbered from C.R.S. §
12-61-809
and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.
L. 93: Entire part added, p. 990, § 1, effective 1/1/1994. L. 2002: (2)(a) amended, p. 1062, § 9, effective 1/1/2003.
This section is similar to former § 12-61-809 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 4 - BROKERAGE RELATIONSHIPS (§§ 12-10-401 — 12-10-411) › Section 12-10-410 - Compensation

(1)
In any real estate transaction, the broker's compensation may be paid by the seller, the buyer, the landlord, the tenant, a third party, or by the sharing or splitting of a commission or compensation between brokers.
(2)
Payment of compensation shall not be construed to establish an agency relationship between the broker and the party who paid the compensation.
(3)
A seller or landlord may agree that a transaction-broker or single agent may share the commission or other compensation paid by the seller or landlord with another broker.
(4)
A buyer or tenant may agree that a single agent or transaction-broker may share the commission or other compensation paid by the buyer or tenant with another broker.
(5)
A buyer's or tenant's agent shall obtain the written approval of the buyer or tenant before the agent may propose to the seller's or landlord's agent that the buyer's or tenant's agent be compensated by sharing compensation paid by the seller or landlord.
(6)
Prior to entering into a brokerage or listing agreement or a contract to buy, sell, or lease, the identity of those parties, persons, or entities paying compensation or commissions to any broker shall be disclosed to the parties to the transaction.
(7)
A broker may be compensated by more than one party for services in a transaction if those parties have consented in writing to such multiple payments prior to entering into a contract to buy, sell, or lease.
Renumbered from C.R.S. §
12-61-801
and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.
L. 93: Entire part added, p. 991, § 1, effective 1/1/1994. L. 94: (6) amended, p. 496, § 1, effective March 31. L. 2002: (3) and (4) amended, p. 1063, § 10, effective 1/1/2003.
This section is similar to former § 12-61-810 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 4 - BROKERAGE RELATIONSHIPS (§§ 12-10-401 — 12-10-411) › Section 12-10-411 - Violations

The violation of any provision of this part 4 by a broker constitutes an act pursuant to section
12-10-217 (1)(m)
for which the real estate commission may investigate and take administrative action against any such broker pursuant to sections
12-10-217
and
12-10-219
.
Renumbered from C.R.S. §
12-61-811
and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.
L. 93: Entire part added, p. 991, § 1, effective 1/1/1994. L. 2008: Entire section amended, p. 510, § 26, effective April 17.
This section is similar to former § 12-61-811 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 5 - SUBDIVISIONS (§§ 12-10-501 — 12-10-508) › Section 12-10-502 - [Effective Until 8/7/2024] Registration required

(1)
Unless exempt under the provisions of section
12-10-501 (3)
, a developer, before selling, leasing, or transferring or agreeing or negotiating to sell, lease, or transfer, directly or indirectly, any subdivision or any part thereof, shall register pursuant to this part 5.
(2)
Upon approval by the commission, a developer who has applied for registration pursuant to section
12-10-503
may offer reservations in a subdivision during the pendency of the application and until the application is granted or denied if the fees for the reservations are held in trust by an independent third party and are fully refundable.
Renumbered from C.R.S. §
12-61-402
and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.
L. 63: p. 785, § 2. C.R.S. 1963: § 118-16-2. L. 79: Entire section R&RE, p. 573, § 2, effective May 25. L. 84: (2) amended, p. 445, § 1, effective April 2. L. 89: (2) amended, p. 739, § 12, effective July 1. L. 96: (1) amended, p. 370, § 2, effective April 17.
This section is similar to former § 12-61-402 as it existed prior to 2019.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 5 - SUBDIVISIONS (§§ 12-10-501 — 12-10-508) › Section 12-10-502 - [Effective 8/7/2024] Registration required

(1)
Unless exempt under the provisions of section
12-10-501 (3)
, a developer, before selling, leasing, or transferring or agreeing or negotiating to sell, lease, or transfer, directly or indirectly, any subdivision or any part thereof, shall register pursuant to this part 5.
(2)
Upon approval by the commission, a developer who has applied for registration pursuant to section
12-10-503
may offer reservations in a subdivision during the pendency of the application and until the application is granted or denied if the fees for the reservations are held in trust by an independent third party and are fully refundable.
(3)
(a)
Upon the commission's approval of a developer's subdivision registration pursuant to section 12-10-503, the developer may enter into binding purchase contracts with prospective buyers and accept earnest money deposits. Except as provided in subsection (3)(b) of this section, an earnest money deposit must be held in trust by an independent third party.
(b)
(I)
Notwithstanding subsection (3)(a) of this section or any other provision in this part 5, upon subdivision registration approval, a developer may receive earnest money deposits from an accredited investor and use some or all of the funds toward development of a subdivision, but only if the purchase contract or other written disclosure contains a clear statement setting forth:
(A)
To whom the funds will be delivered;
(B)
When the delivery of the funds will occur;
(C)
How the funds will be used; and
(D)
Any restriction on the use of the funds.
(II)
A developer may receive earnest money deposits from an accredited investor pursuant to the requirements in subsection (3)(b)(I) of this section without first having to post a bond or other security.
(c)
This subsection (3) applies only if the subdivision is a time share estate, as defined in section 38-33-110 (5).
Amended by 2024 Ch. 263,§ 1, eff. 8/7/2024.
Renumbered from C.R.S. §
12-61-402
and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.
L. 63: p. 785, § 2. C.R.S. 1963: § 118-16-2. L. 79: Entire section R&RE, p. 573, § 2, effective May 25. L. 84: (2) amended, p. 445, § 1, effective April 2. L. 89: (2) amended, p. 739, § 12, effective July 1. L. 96: (1) amended, p. 370, § 2, effective April 17.
This section is similar to former § 12-61-402 as it existed prior to 2019.
2024 Ch. 263, 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.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 5 - SUBDIVISIONS (§§ 12-10-501 — 12-10-508) › Section 12-10-504 - Registration of developers

(1)
The commission shall register all applicants who meet the requirements of this part 5 and provide each applicant so registered with a certificate indicating that the developer named therein is registered in the state of Colorado as a subdivision developer. The developer that will sign as seller or lessor in any contract of sale, lease, or deed purporting to convey any site, tract, lot, or divided or undivided interest from a subdivision shall secure a certificate before offering, negotiating, or agreeing to sell, lease, or transfer before the sale, lease, or transfer is made. If such person or entity is acting only as a trustee, the beneficial owner of the subdivision shall secure a certificate. A certificate issued to a developer shall entitle all sales agents and employees of the developer to act in the capacity of a developer as agent for the developer. The developer shall be responsible for all actions of the sales agents and employees.
(2)
All certificates issued under this section shall expire on December 31 following the date of issuance. In the absence of any reason or condition under this part 5 that might warrant the denial or revocation of a registration, a certificate shall be renewed by payment of a renewal fee established pursuant to section
12-10-215
. A registration that has expired may be reinstated within two years after the expiration upon payment of the appropriate renewal fee if the applicant meets all other requirements of this part 5.
(3)
All fees collected under this part 5 shall be deposited in accordance with section
12-10-214
.
(4)
With regard to any subdivision for which the information required by section
12-10-503(3)
has not been previously submitted to the commission, each registered developer shall register the subdivision by providing the commission with the information before sale, lease, or transfer, or negotiating or agreeing to sell, lease, or transfer, any such subdivision or any part thereof.
Renumbered from C.R.S. §
12-61-404
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
L. 63: p. 787, § 4. C.R.S. 1963: § 118-16-4. L. 65: p. 950, § 1. L. 79: (1) amended and (4) added, p. 575, § 4, effective May 25; (2) amended, p. 574, § 3, effective July 1. L. 89: (1) and (2) amended, p. 740, § 16, effective July 1. L. 96: (1) and (2) amended, p. 372, § 4, effective April 17.
This section is similar to former § 12-61-404 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 5 - SUBDIVISIONS (§§ 12-10-501 — 12-10-508) › Section 12-10-507 - Violation - penalty

Any person who fails to register as a developer in violation of this part 5 commits a class 6 felony and shall be punished as provided in section
18-1.3-401
. Any agreement or contract for the sale or lease of a subdivision or part thereof shall be voidable by the purchaser and unenforceable by the developer unless the developer was duly registered under the provisions of this part 5 when the agreement or contract was made.
Renumbered from C.R.S. §
12-61-407
and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.
L. 63: p. 788, § 7. C.R.S. 1963: § 118-16-7. L. 77: Entire section amended, p. 877, § 42, effective 7/1/1979. L. 79: Entire section amended, p. 577, § 7, effective May 25. L. 89: Entire section amended, p. 743, § 19, effective July 1; entire section amended, p. 827, § 30, effective July 1. L. 2002: Entire section amended, p. 1486, § 116, effective October 1.
This section is similar to former § 12-61-407 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 5 - SUBDIVISIONS (§§ 12-10-501 — 12-10-508) › Section 12-10-508 - Repeal of part - subject to review

This part 5 is repealed, effective September 1, 2026. Before the repeal, this part 5 is scheduled for review in accordance with section
24-34-104
.
Renumbered from C.R.S. §
12-61-408
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
Amended by 2017 Ch. 282,§ 3, eff. 6/30/2017.
L. 91: Entire section added, p. 685, § 44, effective May 20. L. 99: Entire section amended, p. 719, § 13, effective July 1. L. 2008: Entire section amended, p. 515, § 41, effective April 17. L. 2017: Entire section amended, (SB 17-215), ch. 282, p. 1534, § 3, effective June 30.
This section is similar to former § 12-61-408 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 6 - REAL ESTATE APPRAISERS (§§ 12-10-601 — 12-10-623) › Section 12-10-601 - Legislative declaration

The general assembly finds, determines, and declares that sections
12-10-602
to
12-10-623
are enacted pursuant to the requirements of the "Real Estate Appraisal Reform Amendments", Title XI of the federal "Financial Institutions Reform, Recovery, and Enforcement Act of 1989", as amended,
12 U.S.C. secs. 3331
to
3351
. The general assembly further finds, determines, and declares that sections
12-10-602
to
12-10-623
are intended to implement the requirements of federal law in the least burdensome manner to real estate appraisers and appraisal management companies. Licensed ad valorem appraisers licensed under this article 10 are not regulated by the federal "Real Estate Appraisal Reform Amendments", Title XI of the federal "Financial Institutions Reform, Recovery, and Enforcement Act of 1989", as amended,
12 U.S.C. secs. 3331
to
3351
.
Renumbered from C.R.S. §
12-61-701
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
Entire part recreated and reenacted by 2014 Ch. 385,§ 1, eff. 7/1/2014.
Amended by 2013 Ch. 392,§ 2, eff. 7/1/2013.
This section is similar to former § 12-61-701 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 6 - REAL ESTATE APPRAISERS (§§ 12-10-601 — 12-10-623) › Section 12-10-605 - Fees, penalties, and fines collected under part 6

All fees, penalties, and fines collected pursuant to this part 6, not including fees retained by contractors pursuant to contracts entered into in accordance with section
12-10-203
,
12-10-606
, or
24-34-101
, shall be transmitted to the state treasurer, who shall credit the same to the division of real estate cash fund, created in section
12-10-215
.
Renumbered from C.R.S. §
12-61-705
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
This section is similar to former § 12-61-705 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 6 - REAL ESTATE APPRAISERS (§§ 12-10-601 — 12-10-623) › Section 12-10-608 - Errors and omissions insurance - duties of the division - certificate of coverage - group plan made available - rules

(1)
Every licensee under this part 6, except an appraiser who is employed by a state or local governmental entity or an inactive appraiser or appraisal management company, shall maintain errors and omissions insurance to cover all activities contemplated under this part 6. The division shall make the errors and omissions insurance available to all licensees by contracting with an insurer for a group policy after a competitive bid process in accordance with article
103
of title
24
. A group policy obtained by the division must be available to all licensees with no right on the part of the insurer to cancel any licensee. A licensee may obtain errors and omissions insurance independently if the coverage complies with the minimum requirements established by the division.
(2)
(a)
If the division is unable to obtain errors and omissions insurance coverage to insure all licensees who choose to participate in the group program at a reasonable annual premium, as determined by the division, a licensee shall independently obtain the errors and omissions insurance required by this section.
(b)
The division shall solicit and consider information and comments from interested persons when determining the reasonableness of annual premiums.
(3)
The division shall determine the terms and conditions of coverage required under this section based on rules promulgated by the board. Each licensee shall be notified of the required terms and conditions at least thirty days before the annual premium renewal date as determined by the division. Each licensee shall file a certificate of coverage showing compliance with the required terms and conditions with the division by the annual premium renewal date, as determined by the division.
(4)
In addition to all other powers and duties conferred upon the board by this part 6, the board is authorized and directed to adopt rules it deems necessary or proper to carry out the requirements of this section.
Renumbered from C.R.S. §
12-61-708
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
This section is similar to former § 12-61-708 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 6 - REAL ESTATE APPRAISERS (§§ 12-10-601 — 12-10-623) › Section 12-10-609 - Bond required

(1)
Before the board issues a license to an applicant for an appraisal management company license, the applicant shall post with the board a surety bond in the amount of twenty-five thousand dollars. A licensed appraisal management company shall maintain the required bond at all times.
(2)
The surety bond shall require the surety to provide notice to the board within thirty days if payment is made from the surety bond or if the bond is canceled.
Renumbered from C.R.S. §
12-61-709
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
This section is similar to former § 12-61-709 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 6 - REAL ESTATE APPRAISERS (§§ 12-10-601 — 12-10-623) › Section 12-10-611 - Licensure or certification by endorsement - temporary practice

(1)
The board may issue a license or certification to an appraiser by endorsement to engage in the occupation of real estate appraisal to any applicant who has a license or certification in good standing as a real estate appraiser under the laws of another jurisdiction if:
(a)
The applicant presents proof satisfactory to the board that, at the time of application for a Colorado license or certificate by endorsement, the applicant possesses credentials and qualifications that are substantially equivalent to the requirements of this part 6; or
(b)
The jurisdiction that issued the applicant a license or certificate to engage in the occupation of real estate appraisal has a law similar to this subsection (1) pursuant to which it licenses or certifies persons who are licensed real estate appraisers in this state.
(2)
The board may specify, by rule, what constitutes substantially equivalent credentials and qualifications and the manner in which the board will review credentials and qualifications of an applicant.
(3)
Pursuant to section 1122 (a) of Title XI of the federal "Financial Institutions Reform, Recovery, and Enforcement Act of 1989", Pub.L. 101-73, as amended, the board shall recognize, on a temporary basis, the license or certification of an appraiser issued by another state if:
(a)
The appraiser's business is of a temporary nature; and
(b)
The appraiser applies for and is granted a temporary practice permit by the board.
Renumbered from C.R.S. §
12-61-711
and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.
Entire part recreated and reenacted by 2014 Ch. 385, § 1, eff. 7/1/2014.
This section is similar to former § 12-61-711 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 6 - REAL ESTATE APPRAISERS (§§ 12-10-601 — 12-10-623) › Section 12-10-612 - Denial of license or certificate - renewal - definition

(1)
The board may determine whether an applicant for licensure or certification possesses the necessary qualifications for licensure or certification required by this part 6. The board may consider such qualities as the applicant's fitness and prior professional licensure and whether the applicant has been convicted of a crime. As used in this subsection (1), "applicant" includes any individual who owns, in whole or in part, directly or indirectly, an appraisal management company and any appraiser designated as a controlling appraiser by a partnership, limited liability company, or corporation acting as an appraisal management company.
(2)
If the board determines that an applicant does not possess the applicable qualifications required by this part 6, or the applicant has violated this part 6, rules promulgated by the board, or any board order, the board may deny the applicant a license or certificate or deny the renewal or reinstatement of a license or certificate pursuant to section
12-10-610
, and, in such instance, the board shall provide the applicant with a statement in writing setting forth the basis of the board's determination that the applicant does not possess the qualifications or professional competence required by this part 6. The applicant may request a hearing on the determination as provided in section
24-4-104(9)
.
Renumbered from C.R.S. §
12-61-712
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
Entire part recreated and reenacted by 2014 Ch. 385,§ 1, eff. 7/1/2014.
This section is similar to former § 12-61-712 as it existed prior to 2019.
2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 6 - REAL ESTATE APPRAISERS (§§ 12-10-601 — 12-10-623) › Section 12-10-615 - Judicial review of final board actions and orders

Final actions and orders of the board under sections
12-10-612
,
12-10-613
, and
12-10-614
appropriate for judicial review are subject to judicial review in the court of appeals in accordance with section
24-4-106(11)
.
Renumbered from C.R.S. §
12-61-715
and amended by 2019 Ch. 136,§ 1, eff. 10/1/2019.
This section is similar to former § 12-61-715 as it existed prior to 2019.