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Bill > HB0193


WY HB0193

Real property-severance of pore space-notice.


summary

Introduced
01/20/2025
In Committee
Crossed Over
Passed
Dead
03/03/2025

Introduced Session

2025 General Session

Bill Summary

AN ACT relating to property; requiring notice of the severance of the pore space in conveyances of real property and disclosure statements; specifying applicability; and providing for an effective date.

AI Summary

This bill modifies Wyoming state law regarding property disclosures and pore space ownership, requiring sellers of vacant land to explicitly disclose whether the ownership interest in pore space has been severed from the surface property during real estate transactions. Pore space refers to the void or empty spaces within underground geological formations, which can be important for activities like carbon sequestration or underground storage. The bill mandates that all conveyances of surface property must now include a clear notice indicating whether the pore space ownership is included or excluded from the property transfer. Previously, surface property ownership automatically included pore space ownership unless it had been explicitly severed, but the new law requires sellers to proactively disclose the status of pore space ownership in the property disclosure statement. This change aims to increase transparency in real estate transactions by ensuring buyers are fully informed about the complete property ownership rights. The bill will apply to all real property conveyances on and after July 1, 2025, giving property sellers and real estate professionals time to adjust to the new disclosure requirements.

Committee Categories

Business and Industry

Sponsors (6)

Last Action

H:Died in Committee Returned Bill Pursuant to HR 5-4 (on 03/03/2025)

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