Colo. Rev. Stat. § 29-4-1207

Current through 11/5/2024 election

Section 29-4-1207 - Termination of right of first refusal and right of first offer

The rights of first refusal and first offer established in this part 12 terminate on December 31, 2029. A residential seller is not required to provide notices required pursuant to this part 12 after December 31, 2029, and a local government shall not exercise the right of first refusal or the right of first offer pursuant to this part 12 after December 31, 2029; except that, if the local government or its assignee has exercised the right of first refusal or the right of first offer pursuant to this part 12 before December 31, 2029, and the process has not concluded, then the process shall continue until it concludes in accordance with this part 12 notwithstanding the termination date set forth in this section.

C.R.S. § 29-4-1207

Added by 2024 Ch. 286,§ 1, eff. 8/7/2024, app. to all qualifying properties for the right of first refusal that are listed for sale on or after the effective date but for which a residential seller has not accepted an offer to purchase the qualifying property and executed the necessary agreements in connection with accepting the offer and to all qualifying properties for the right of first offer on or after the effective date that do not have active listings as of the effective date.

2024 Ch. 286, was passed without a safety clause. See Colo. Const. art. V, § 1(3).