The Law’s Effect on Commercial Real Estate Transactions in Colorado
On April 29, 2010, Governor Ritter signed into law the Commercial Real Estate Brokers Commission Security Act, commonly known as the “Broker Lien Law.” Prior to enactment, the proposed bill was hotly debated by brokers, commercial building owners, and other professionals within Colorado’s real estate community. The law provides commercial real estate brokers in Colorado the ability to file a lien against commercial property when the owner fails to pay a lease commission due to the broker for procuring a tenant for the property
The law is intended to give commercial real estate brokers lien rights similar to other real estate professionals, including architects and building contractors, who are already afforded lien rights through Colorado’s existing mechanic’s lien statutes. To read more about this new law and its potential impact o n commercial real estate transactions in Colorado, please click here.
If you have questions or would like to receive additional information about this topic, please contact Randy Feuerstein at rfeuerstein@duffordbrown.com or David Closson at dclosson@duffordbrown.com, or call 303.861.8013.
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