§ 24-56-114 — Expenses incidental to transfer of title

Colorado § 24-56-114

• Jurisdiction: Colorado
• Title 24: Government
• Art.: Relocation Assistance and Land Acquisition Policies

Text

Any state agency or
political subdivision of the state acquiring real property for a program or project for
which federal financial assistance will be available to pay all or any part of the cost
of the program or project shall, as soon as practicable after the date of payment of
the purchase price or the date of deposit into court of funds to satisfy the award of
compensation in a condemnation proceeding to acquire real property, whichever is
the earlier, reimburse the owner to the extent the acquiring agency deems fair and
reasonable for expenses he necessarily incurred for recording fees, transfer taxes,
and similar expenses incidental to conveying such real property to the acquiring
agency; penalty costs for prepayment for any preexisting recorded mortgage or
deed of trust entered into in good faith encumbering such real property; and the pro
rata portion of real property taxes paid which are allocable to a period subsequent
to the date of vesting title in the acquiring agency or the effective date of
possession of such real property by the acquiring agency, whichever is the earlier.

Legislative History

Source: L. 71: p. 677, � 1. C.R.S. 1963: � 69-10-14.