CAR Successfully Limits Private Residential Transfer Fees
CAR's Legislative Policy Committee chaired by REALTOR® Jack Beuse and CAR's Public Policy staff led by VP Rachel Nance successfully responded to concerns expressed by many REALTORS® across Colorado by working with a coalition of stake holders to encourage the Colorado Legislature to limit private residential transfer fees.
When the legislature passed SB-234 in the 2011 Session, Colorado joined over twenty-five other states to ban private transfer-fee covenants recorded in the future and to regulate existing residential private transfer-fee covenants already recorded. The bill, which adds the new section 38-35-127 to Colorado Revised Statutes, was signed by Governor John Hickenlooper on May 23, 2011, which is the
effective date of SB-234.