Under Colorado law, which document must a seller of residential real property use to disclose known material defects, including environmental conditions, to a prospective buyer?
Correct Answer
A) The CREC-approved Seller's Property Disclosure form
Under the Colorado Seller's Property Disclosure Act (C.R.S. § 38-35.7-101 et seq.), sellers of residential real property must disclose known material defects — including environmental conditions — using the CREC-approved Seller's Property Disclosure form. Colorado mandates the use of this specific standardized form; licensees may not substitute a custom or broker-drafted alternative.
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Under Colorado's prior appropriation water law, which statement best describes the relationship between surface land ownership and water rights when a property is sold?
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Maria is selling her home in Pueblo, Colorado. She is aware that the property has a radon mitigation system installed because a previous test revealed elevated radon levels. When completing the CREC-approved Seller's Property Disclosure form, what must Maria do regarding this information?