Resources

Assignment Of An Association’s Lien In Foreclosure

Filed Under Foreclosure, Litigation

Posted September 15, 2011

This article briefly describes the benefits of and process involved in assigning an association’s lien to a third party during a pending foreclosure action. Associations in Colorado have a lien against properties for all unpaid assessments, late fees, fines, interest, and attorney fees and costs. Colorado’s Common Interest Ownership Act (“CCIOA”) provides that associations haveGo to Resource

Association Use Of Judicial Foreclosures

Filed Under Foreclosure, Litigation

Posted September 15, 2011

The Denver Post recently reported that Colorado has the dubious honor of leading the country in the number of foreclosures. This unfortunate distinction is particularly unwelcome news for Colorado’s community associations. If an association declines to exercise its redemption rights when a first mortgage holder forecloses, the association is limited to recovering just 6 monthsGo to Resource

Checklist of the Top Foreclosure Cues

Filed Under Foreclosure, Samples, Forms, Checklists

Posted September 15, 2011

Foreclosure of an Association’s assessment lien is an important tool in the collections arsenal. Of course, not every property in every association may be an ideal candidate for this collection tool. Below are the top cues that may help you determine whether a particular delinquent account or property would benefit from the use of foreclosureGo to Resource

Checklist for Creating Reasonable Rules

Filed Under Samples, Forms, Checklists

Posted September 15, 2011

In creating reasonable rules following a process will help ensure that the rule is necessary as well as valid: Determine the need for the proposed rule. Good rules accomplish exactly what the board intended them to accomplish. Unfortunately, some associations try to solve a problem by passing rules that are either too harsh or tooGo to Resource

Checklist for Annual Disclosures as Required by CCIOA

Filed Under Samples, Forms, Checklists

Posted September 15, 2011

The Colorado Common Interest Ownership Act (CCIOA) requires associations to annually “disclose” the information below within 90 days after the end of each fiscal year: Name of the association; Name of the association’s designated agent or management company, if any; Valid physical address and telephone number for both the association and designated agent or managementGo to Resource

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