With the ever-increasing costs of insurance, maintenance, labor, and supplies, community associations are looking for options to fund large scale projects. Whether your community needs a roof replacement or major swimming pool repairs, if your community is considering a loan to fund such project, you must understand the association’s rights and limitations. The first stepGo to Newsletter
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When there is no law, but every man does what is right in his own eyes, there is the least of real liberty. –Henry M. Robert In 1863, a man named Henry Robert, an engineering captain in the United States Army, was asked to preside over a large church gathering. Captain Robert did not knowGo to Newsletter
Mortgage company public trustee foreclosure filings have generally been increasing over the last few years. Many of these homes are located in community associations. While the homeowner’s mortgage is an agreement between the homeowner and the mortgage company, there are impacts to the association when the first mortgage forecloses. Superlien: When a foreclosure is initiated,Go to Newsletter
Colorado law requires common interest communities to adopt nine “responsible governance policies” addressing processes for key association issues. While many associations may have adopted such policies in the past, the law continues to change and oftentimes requires updates to various policies. Therefore, associations should periodically review their policies to ensure they remain consistent with currentGo to Newsletter
Despite what many individuals believe, associations are not obligated by Colorado law to provide security services or guaranty safety of their residents, guests, or invitees. Associations are not the police and do not have police powers to deal with unlawful and criminal activities in their communities. Regardless, this does not stop owners and residents fromGo to Newsletter