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<br />\lUL1c..Uc..l"I\l 1''-Ic.. <br /> <br />vWl\l\l <br /> <br />rH^ NU, ~(Uq~llDjb <br /> <br />1"', U~ <br /> <br />000629 <br /> <br />i.R~GlITS <br />salability <br /> <br />Water rights are treated as "real property" rights under <br />Colorado law. Although a water right represents the right to use <br />the resource rather than outright ownership, as with any other <br />property right, the holder of a water right has the expectation <br />of being able to sell the right. For same water rights holders, <br />among ,them farmers and ranchers, water rights may be their <br />highest valued asset. <br /> <br />U':\'ClkinqU <br /> <br />In colorado, there has been a reluc.t:ance to regulate water <br />rights beyond protecting the rights of other water rights <br />holde.rs. Too severe regulations can lead to a IItaking I" in <br />essence, the government confiscating a piece of property by so <br />,re~~~~ing it as to ~ake it unusable or unsalable. <br /> <br />Right to transfer or chanqa <br /> <br />The prerogatives of a water right holder includes the right <br />to change the nature of the use, location of use, or point of <br />diversion of the water right. These transfers or changes must be <br />proce~sed and approved by the water courts, which assures <br />pro~ection of other water rights. The purchaser of water rights, <br />as the new possessor, also has this prerogative. <br /> <br />Types of wa~er transfers <br /> <br />There are two general categories of transfers: those which <br />involve the transfer of a new appropriation or conditional <br />right$, and those which involve the transfer of an existing water <br />right. Much of the controversy which has fueled the public <br />debate during the past few 'years has been dri~en by agriculture- <br />to-urban transfers. The two categories have overlapping issues <br />but there may be some differences that would require different <br />policy approaches. <br /> <br />..........;::..:.,j.:...............:::.:...:.....:.:~..:I..~..::...::.::... . ~ ", .... ~~___,~.l........... <br /> <br />. . '.Questions:." lJ9~:;:,cari ":.~e i.riterests 'of.. those ." <br />. '..affected ::bY'.:~';~~ar:ge:. ~rea-of:,,:,ori9'in .wat~.r .. . <br />. ..:...tr~nsre~..'::be::~tiik~1l:~:tiit6 a~cou't1.t;'ioti~ljij(j~A~f.:" ....... <br />cu:r::-ren.t .fram~~o~.k: ot. ..property I ig}?ts? :':~e <br />there methods used' in the use .ahd/or ~emoval <br />of other kinds of resources, sucb as,minerals <br />and l~e~1 that Can be app~ied to,wa~.~' ' <br />transfer.~ .to belp address the needs'of these <br />affected in~erests? '. . <br /> <br />G. <br />