Disclosure Colorado State Lease Assignment - Buyer and Seller
Notice To Buyers and Sellers involved in a purchase and sale contract
Download Colorado Lease Assignment Packet provided by the Colorado State Board of Land Commissioners (State Land Board)
For the most recent and up to date information contact the Colorado State Land Board https://slb.colorado.gov/
Disclosure for Colorado real estate transactions involving Colorado state lease assignment
The transaction (s) may also include the assignment of a ### acre agricultural lease with the Colorado State Board of Land Commissioners. Seller is not authorized to assign the lease without the review and approval of the proposed assignment by the State Land Board; approval may be withheld in the State Land Board’s sole discretion. Should a buyer wish to procure the lease, seller agrees to submit the necessary paperwork to the State Land Board to begin the lease assignment review process.
Paragraph 23 of the State Land Board lease form states that any attempt to assign an agriculture lease without prior approval from the State Land Board (Board) is a violation of the terms and conditions of the lease. The consequences may include financial penalties equal to one year’s rent or even immediate cancellation of the lease. A copy of the agency’s standard agricultural lease template is attached to this letter for your reference.
If a lessee would like to request permission to assign their lease to another party they must do so in writing. A request may be made at any time during the term of a lease as long as the lessee is in good standing (e.g. compliant with all lease terms) and there is more than one year remaining in the lease term.