SB 25-035 CO

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Became Law

Under current law, the statute of limitations to bring certain claims against a real estate appraiser does not start until the party filing the claim has discovered, or should have discovered, an alleged defect in the appraisal. The act requires a claimant to bring an action against a real estate appraiser (appraiser) within 5 years after the date the appraisal report is completed and transmitted to a client. The 5-year limitation does not apply to an action against an appraiser for a defective appraisal report or service if the action is brought by: A consumer who is an original party to a residential mortgage loan or residential real estate transaction; or A mortgage originator who must repurchase a loan. The 5-year limitation also does not apply to an action for fraud, for misrepresentation, or for a discriminatory housing practice brought against an appraiser. (Note: This summary applies to this bill as enacted.)

• Lisa Frizell Republican · primary
• Dafna Michaelson Jenet · primary
• Chad Clifford Democratic · primary
• Ron Weinberg Republican · primary

1. May 31, 2025 Governor Signed · executive
2. Apr 29, 2025 Sent to the Governor · executive
3. Apr 29, 2025 Signed by the Speaker of the House · lower
4. Apr 29, 2025 Signed by the President of the Senate · upper
5. Apr 14, 2025 House Third Reading Passed - No Amendments · lower
6. Apr 11, 2025 House Second Reading Special Order - Passed - No Amendments · lower
7. Apr 8, 2025 House Second Reading Laid Over Daily - No Amendments · lower
8. Apr 3, 2025 House Committee on Business Affairs & Labor Refer Unamended to House Committee of the Whole · lower
9. Feb 26, 2025 Introduced In House - Assigned to Business Affairs & Labor · lower
10. Feb 25, 2025 Senate Third Reading Passed - No Amendments · upper
11. Feb 24, 2025 Senate Second Reading Passed with Amendments - Committee · upper
12. Feb 20, 2025 Senate Committee on Business, Labor, & Technology Refer Amended - Consent Calendar to Senate Committee of the Whole · upper
13. Jan 8, 2025 Introduced In Senate - Assigned to Business, Labor, & Technology · upper