(1) This part 12 does not apply to any sale, transfer, or conveyance of an applicable qualifying property by a residential seller: (a) Made to, if wholly or majority owned, directly or indirectly, by, beneficially held, all or in part, in common with, or under common ownership or control with the residential seller, one or more partnerships, limited liability companies, corporations, or other entities, made for tax or estate purposes between closely held partners, members of one or more limited liability companies, members of one or more corporations, or members, trustees, managers, or partners of one or more other entities, or if the United States, or any agency or instrumentality thereof, or the state, or any political subdivision of the state, is the residential seller of or is a third-party buyer of the applicable qualifying property; (b) Made to the state, a local government, the Colorado housing and finance authority, any public housing authority, and any other political subdivision of the state; (c) Made to an affordable housing provider that has provided notice of intent to purchase the applicable qualifying property and commits to providing long-term affordable housing; (d) If the applicable qualifying property is sold, transferred, or conveyed in a foreclosure action or by a deed in lieu of foreclosure, if the applicable qualifying property is sold, transferred, or conveyed by a party that acquires the applicable qualifying property in a foreclosure action or by a deed in lieu of foreclosure, or if the applicable qualifying property is subsequently transferred by a government-sponsored enterprise to a direct or indirect wholly owned subsidiary, affiliated lender, or other third party; (e) If, on or after August 7, 2024, the applicable qualifying property has a preexisting agreement that bestows a right of first refusal, right of first offer, or other contingent property right regarding the applicable qualifying property to a third party; except that, upon expiration of the agreement, the provisions of this part 12 apply to any sale, transfer, or conveyance of the applicable qualifying property by the residential seller; (f) If the residential seller has applied for, is in the process of, or has successfully resyndicated or recapitalized the applicable qualifying property in connection with an affordable housing program offered by the federal, state, or local government or a political subdivision or any public entity, and the residential seller provides notice and demonstrable evidence of this to the local government; except that, if the residential seller is not successful in resyndicating or recapitalizing an applicable qualifying property in connection with an affordable housing program offered by the federal, state, or local government or a political subdivision or any public entity then the right of first refusal or the right of first offer, as applicable, and the requirements set forth in this part 12 apply; (g) Made to a family member, as defined in section 8-13.3-503 (11), of the residential seller; (h) Made to a trust if the beneficiary of the trust is the spouse, partner in a civil union, legally recognized child, or other family member of the residential seller; (i) Made pursuant to a will, descent, or intestate distribution; or (j) Made pursuant to an action in eminent domain or in response to a threat of eminent domain. (2) The right of first offer set forth in section 29-4-1203 does not apply to any sale, transfer, or conveyance of a qualifying property, as defined in section 29-4-1203 (1), by a residential seller: (a) Made pursuant to a court order; (b) Made between joint tenants or tenants in common; (c) If the first certificate of occupancy for the qualifying property was issued within thirty years preceding the date that the residential seller will list the qualifying property for sale; (d) If the qualifying property is being sold, transferred, or conveyed as part of a transaction involving multiple properties that includes at least one property located in a jurisdiction that is outside of the jurisdiction of the local government; (e) That does not involve the sale, transfer, or conveyance of all or substantially all of the qualifying property; or (f) That is a sale, transfer, or conveyance, directly or indirectly, of ownership interests in the residential seller.
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