BY REPRESENTATIVES May, Anderson, Kaufman, Reeser, Sinclair, and Swenson;
also SENATOR B. Alexander.
CONCERNING THE FORMS OF EVIDENCE THAT MAY BE PRESENTED
TO PROVE THAT A PARCEL OF LAND IS NOT "AGRICULTURAL REAL
ESTATE" FOR FORECLOSURE REDEMPTION PURPOSES.
Be it enacted by the General Assembly of the State
of Colorado:
SECTION 1. 3838302
(4), Colorado Revised Statutes, is amended to read:
3838302. Redemption within
specified period procedure. (4) (a) The
term "agricultural real estate" means, for the purpose
of this section, any parcel of real estate, none of which, on
the date of recording of the mortgage or deed of trust or at the
time of the foreclosure sale under such mortgage or deed of trust,
is either platted as a subdivision, or
is both
located within an incorporated town, city, or city and county,
and
OR is not valued and assessed as agricultural land pursuant to
sections 391102 (1.6) (a) and 391103 (5),
C.R.S., by the assessor of the county in which the land is located.
(b) (I) If it is not evident from
the legal description contained in the mortgage or deed of trust
that the real estate described therein is or is not agricultural
real estate, the public trustee or sheriff shall accept as evidence
that the parcel is not agricultural real estate either:
(A) A certified copy of the subdivision
plat containing all or a part of the parcel of real estate; or
(B) Both
A certificate of the county clerk and recorder of the city, town,
or city and county certifying that all or a part of the parcel
is located within the incorporated limits of the city, town, or
city and county on the date of recording of the mortgage or deed
of trust or at the time of the foreclosure sale; and
OR
(C) A certificate from the assessor of
the county in which the property is located certifying that all
or a part of the parcel is not valued and assessed as agricultural
land.
(II) A TITLE INSURANCE COMPANY ISSUING
A POLICY MAY RELY UPON ANY OF THE FORMS OF EVIDENCE SET FORTH
UNDER THIS PARAGRAPH (b).
(c) Such plat or certificates shall be
obtained and furnished and the certificates recorded, all of which
shall be paid for by the person seeking the determination that
the property is not agricultural real estate.
(d) If at the time of recording of the
mortgage or deed of trust, or at the time of the foreclosure sale,
the property is, in whole or in part, either platted as a subdivision
or is both located within the incorporated limits of a town, city,
or city and county and is not valued and assessed as agricultural
land, it shall be deemed for all purposes under this section,
and against all persons, that such parcel is not agricultural
real estate.
SECTION 2. Effective
date applicability. (1) This act shall take
effect at 12:01 a.m. on the day following the expiration of the
ninetyday period after final adjournment of the general
assembly that is allowed for submitting a referendum petition
pursuant to article V, section 1 (3) of the state constitution;
except that, if a referendum petition is filed against this act
or an item, section, or part of this act within such period, then
the act, item, section, or part, if approved by the people, shall
take effect on the date of the official declaration of the vote
thereon by proclamation of the governor.
(2) The provisions of this act shall apply to foreclosure sales on or after the applicable effective date of this act.
____________________________ ____________________________
Charles E. Berry Tom Norton
SPEAKER OF THE HOUSE PRESIDENT OF
OF REPRESENTATIVES THE SENATE
____________________________ ____________________________
Judith M. Rodrigue Patricia K. Dicks
CHIEF CLERK OF THE HOUSE ASSISTANT SECRETARY OF
OF REPRESENTATIVES THE SENATE
APPROVED________________________________________
_________________________________________
Roy Romer
GOVERNOR OF THE STATE
OF COLORADO