Many residents and businesses in Colorado pay public utilities, such as Denver Water, to receive their water supply. In rural and even not so rural parts of Colorado, however, many residents and businesses receive their water via a well or other type of water right that they own. Water rights in Colorado are regarded as real property, similar to real estate, and ownership is very flexible. A water right can be bought, sold, moved and switched from one use to another, such as from farming to domestic. Understanding the water rights that run with a property can be crucial to real estate transactions that include water rights.
This course provides real estate brokers with a basic understanding of the legal concept of water rights in Colorado, and addresses issues that can arise with their conveyance. Understanding water rights issues in real estate will help real estate brokers facilitate smoother transactions where water rights are involved.