This past summer, the Colorado legislature passed HB22-1137, which became effective on August 9, 2022. This new law requires Colorado associations to update their Collection Policy, Covenant Enforcement Policy and Conduct of Meetings Policy. Additionally, it requires several changes to the collections and covenant enforcement processes. This article focuses on the collections changes, but ifGo to Resource
Collections Resources
Do you have questions about the collection lawsuit process? Are you left wondering what “Answer Filed” means? Do you know what the next steps are once a lawsuit has been disputed? Do you wonder whether a sloth can run? (Ok, I just threw that last one in there to see if you were paying attention,Go to Resource
At some point, most boards will experience a homeowner not paying assessments. Sometimes it’s just one, and sometimes it’s several homeowners, but regardless, this can be an uncomfortable situation for the board. Even though the delinquent homeowners are your neighbors, making sure that all homeowners pay their assessments and taking action when they don’t isGo to Resource
Foreclosure is generally a last resort to collect delinquent balances, and boards understandably have many questions about the process. The purpose of this article is to explain and answer questions about why foreclosures take a long time to complete. To understand why foreclosures take so long to complete, you first need to know the basicGo to Resource
Common Collection Terms
** Originally Published on: Sep 15, 2011 ** We have compiled a list of common legal terms to assist managers and board members with understanding the terminology used when discussing the collection of unpaid assessments. Assessment: The fee an owner is required to pay to the association, typically monthly, quarterly, semi-annually, or annually for suchGo to Resource