CO HB1268

Requires the Real Estate Commission to promulgate a rule by January 1, 2014 mandating disclosure in listing contracts, contracts of sale, and seller's property disclosures for residential real property that the surface estate may be owned separately from the mineral estate.

Mandates disclosure that third parties may own or lease oil, gas, or mineral interests beneath the property and may enter the surface to access those mineral rights, with use potentially governed by surface use agreements recorded with the county clerk.

Requires disclosure that oil and gas activity on or near the property may include surveying, drilling, well completion operations, storage facilities, producing wells, and gas gathering and processing facilities.

Directs sellers to disclose that additional information regarding oil and gas activity, including drilling permit applications, may be available from the Colorado Oil and Gas Conservation Commission.

Provides that sellers and real estate licensees are not liable for purchaser damages resulting from oil, gas, or mineral extraction if the seller complies with the disclosure requirements.

Applies to contracts made on or after the later of January 1, 2014 or the applicable effective date of the act.