C.R.S. Section 38-33.3-207
Allocation of allocated interests

(1)

The declaration must allocate to each unit:

(a)

In a condominium, a fraction or percentage of undivided interests in the common elements and in the common expenses of the association and, to the extent not allocated in the bylaws of the association, a portion of the votes in the association;

(b)

In a cooperative, an ownership interest in the association, a fraction or percentage of the common expenses of the association, and, to the extent not allocated in the bylaws of the association, a portion of the votes in the association;

(c)

In a planned community, a fraction or percentage of the common expenses of the association and, to the extent not allocated in the bylaws of the association, a portion of the votes in the association; except that, in a large planned community, the common expenses of the association may be paid from assessments and allocated as set forth in the declaration and the votes in the association may be allocated as set forth in the declaration.

(2)

The declaration must state the formulas used to establish allocations of interests. Those allocations may not discriminate in favor of units owned by the declarant or an affiliate of the declarant.

(3)

If units may be added to or withdrawn from the common interest community, the declaration must state the formulas to be used to reallocate the allocated interests among all units included in the common interest community after the addition or withdrawal.

(4)

Intentionally left blank —Ed.

(a)

The declaration may provide:

(I)

That different allocations of votes shall be made to the units on particular matters specified in the declaration;

(II)

For cumulative voting only for the purpose of electing members of the executive board;

(III)

For class voting on specified issues affecting the class, including the election of the executive board; and

(IV)

For assessments including, but not limited to, assessments on retail sales and services not to exceed six percent of the amount charged for the retail sale or service, and real estate transfers not to exceed three percent of the real estate sales price or its equivalent.

(b)

A declarant may not utilize cumulative or class voting for the purpose of evading any limitation imposed on declarants by this article, nor may units constitute a class because they are owned by a declarant.

(c)

Assessments allowed under subparagraph (IV) of paragraph (a) of this subsection (4) shall be entitled to the lien provided for under section 38-33.3-316 (1) but shall not be entitled to the priority established by section 38-33.3-316 (2)(b).

(d)

Communities with classes for voting specified in the declaration as allowed pursuant to subparagraph (III) of paragraph (a) of this subsection (4) may designate classes of members on a reasonable basis which do not allow the declarant to control the association beyond the period provided for in section 38-33.3-303, including, without limitation, residence owners, commercial space owners, and owners of lodging space and to elect members to the association executive board from such classes.

(5)

Except for minor variations due to the rounding of fractions or percentages, the sum of the common expense liabilities and, in a condominium, the sum of the undivided interests in the common elements allocated at any time to all the units shall each equal one if stated as fractions or one hundred percent if stated as percentages. In the event of discrepancy between an allocated interest and the result derived from application of the pertinent formula, the allocated interest prevails.

(6)

In a condominium, the common elements are not subject to partition except as allowed for in section 38-33.3-312, and any purported conveyance, encumbrance, judicial sale, or other voluntary or involuntary transfer of an undivided interest in the common elements not allowed for in section 38-33.3-312, that is made without the unit to which that interest is allocated is void.

(7)

In a cooperative, any purported conveyance, encumbrance, judicial sale, or other voluntary or involuntary transfer of an ownership interest in the association made without the possessory interest in the unit to which that interest is related is void.

Source: Section 38-33.3-207 — Allocation of allocated interests, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-38.­pdf (accessed Oct. 20, 2023).

38‑33.3‑101
Short title 38‑33.3‑102
Legislative declaration 38‑33.3‑103
Definitions 38‑33.3‑104
Variation by agreement 38‑33.3‑105
Separate titles and taxation 38‑33.3‑106
Applicability of local ordinances, regulations, and building codes 38‑33.3‑106.5
Prohibitions contrary to public policy - patriotic, political, or religious expression - public rights-of-way - fire prevention - renewable energy generation devices - affordable housing - drought prevention measures - child care - definitions 38‑33.3‑106.7
Unreasonable restrictions on energy efficiency measures - definitions 38‑33.3‑106.8
Unreasonable restrictions on electric vehicle charging systems and electric vehicle parking - legislative declaration - definitions 38‑33.3‑107
Eminent domain 38‑33.3‑108
Supplemental general principles of law applicable 38‑33.3‑109
Construction against implicit repeal 38‑33.3‑110
Uniformity of application and construction 38‑33.3‑111
Severability 38‑33.3‑112
Unconscionable agreement or term of contract 38‑33.3‑113
Obligation of good faith 38‑33.3‑114
Remedies to be liberally administered 38‑33.3‑115
Applicability to new common interest communities 38‑33.3‑116
Exception for new small cooperatives and small and limited expense planned communities 38‑33.3‑116.3
Large planned communities - exemption from certain requirements 38‑33.3‑117
Applicability to preexisting common interest communities 38‑33.3‑118
Procedure to elect treatment under the “Colorado Common Interest Ownership Act” 38‑33.3‑119
Exception for small preexisting cooperatives and planned communities 38‑33.3‑120
Amendments to preexisting governing instruments 38‑33.3‑120.5
Extension of declaration term 38‑33.3‑121
Applicability to nonresidential planned communities 38‑33.3‑122
Applicability to out-of-state common interest communities 38‑33.3‑123
Enforcement - limitation 38‑33.3‑124
Legislative declaration - alternative dispute resolution encouraged - policy statement required 38‑33.3‑201
Creation of common interest communities 38‑33.3‑202
Unit boundaries 38‑33.3‑203
Construction and validity of declaration and bylaws 38‑33.3‑204
Description of units 38‑33.3‑205
Contents of declaration 38‑33.3‑206
Leasehold common interest communities 38‑33.3‑207
Allocation of allocated interests 38‑33.3‑208
Limited common elements 38‑33.3‑209
Plats and maps 38‑33.3‑209.4
Public disclosures required - identity of association - agent - manager - contact information 38‑33.3‑209.5
Responsible governance policies - due process for imposition of fines - procedure for collection of delinquent accounts - enforcement through small claims court - definitions 38‑33.3‑209.6
Executive board member education 38‑33.3‑209.7
Owner education 38‑33.3‑210
Exercise of development rights 38‑33.3‑211
Alterations of units 38‑33.3‑212
Relocation of boundaries between adjoining units 38‑33.3‑213
Subdivision of units 38‑33.3‑214
Easement for encroachments 38‑33.3‑215
Use for sales purposes 38‑33.3‑216
Easement rights 38‑33.3‑217
Amendment of declaration 38‑33.3‑218
Termination of common interest community 38‑33.3‑219
Rights of secured lenders 38‑33.3‑220
Master associations 38‑33.3‑221
Merger or consolidation of common interest communities 38‑33.3‑221.5
Withdrawal from merged common interest community 38‑33.3‑222
Addition of unspecified real estate 38‑33.3‑301
Organization of unit owners’ association 38‑33.3‑302
Powers of unit owners’ association 38‑33.3‑302.5
Unit owners’ access to common elements - duties of association - unreasonable restrictions and prohibitions prohibited - notice of restriction or prohibition required 38‑33.3‑303
Executive board members and officers - powers and duties - reserve funds - reserve study - audit 38‑33.3‑303.5
Construction defect actions - disclosure - approval by unit owners - definitions - exemptions 38‑33.3‑304
Transfer of special declarant rights 38‑33.3‑305
Termination of contracts and leases of declarant 38‑33.3‑306
Bylaws 38‑33.3‑307
Upkeep of the common interest community 38‑33.3‑308
Meetings 38‑33.3‑309
Quorums 38‑33.3‑310
Voting - proxies 38‑33.3‑310.5
Executive board - conflicts of interest - definitions 38‑33.3‑311
Tort and contract liability 38‑33.3‑312
Conveyance or encumbrance of common elements 38‑33.3‑313
Insurance 38‑33.3‑314
Surplus funds 38‑33.3‑315
Assessments for common expenses 38‑33.3‑316
Lien for assessments - liens for fines, fees, charges, costs, and attorney fees - limitations 38‑33.3‑316.3
Collections - limitations - violations 38‑33.3‑316.5
Time share estate - foreclosure - definitions 38‑33.3‑317
Association records - rules - applicability 38‑33.3‑318
Association as trustee 38‑33.3‑319
Other applicable statutes 38‑33.3‑401
Registration - annual fees
Green check means up to date. Up to date

Current through Fall 2024

§ 38-33.3-207’s source at colorado​.gov