C.R.S. Section 38-33.3-316.5
Time share estate

  • foreclosure
  • definitions

(1)

As used in this section, unless the context otherwise requires:

(a)

“Junior lienor” has the same meaning as set forth in section 38-38-100.3 (12), C.R.S.

(b)

“Obligor” means the person liable for the assessment levied against a time share estate pursuant to section 38-33.3-316 or the record owner of the time share estate.

(c)

“Time share estate” has the same meaning as set forth in section 38-33-110 (5).

(2)

A plaintiff may commence a single judicial foreclosure action pursuant to section 38-33.3-316 (11), joining as defendants multiple obligors with separate time share estates and the junior lienors thereto, if:

(a)

The judicial foreclosure action involves a single common interest community;

(b)

The declaration giving rise to the right of the association to collect assessments creates default and remedy obligations that are substantially the same for each obligor named as a defendant in the judicial foreclosure action;

(c)

The action is limited to a claim for judicial foreclosure brought pursuant to section 38-33.3-316 (11); and

(d)

The plaintiff does not allege, with respect to any obligor, that the association’s lien is prior to any security interest described in section 38-33.3-316 (2)(a)(II), even if such a claim could be made pursuant to section 38-33.3-316 (2)(b)(I).

(3)

In a judicial foreclosure action in which multiple obligors with separate time share estates and the junior lienors thereto have been joined as defendants in accordance with this section:

(a)

In addition to any other circumstances where severance is proper under the Colorado rules of civil procedure, the court may sever for separate trial any disputed claim or claims;

(b)

If service by publication of two or more defendants is permitted by law, the plaintiff may publish a single notice for all joined defendants for whom service by publication is permitted, so long as all information that would be required by law to be provided in the published notice as to each defendant individually is included in the combined published notice. Nothing in this paragraph (b) shall be interpreted to allow service by publication of any defendant if service by publication is not otherwise permitted by law with respect to that defendant.

(c)

The action shall be deemed a single action, suit, or proceeding for purposes of payment of filing fees, notwithstanding any action by the court pursuant to paragraph (a) of this subsection (3), so long as the plaintiff complies with subsection (2) of this section.

(4)

Notwithstanding that multiple obligors with separate time share estates may be joined in a single judicial foreclosure action, unless otherwise ordered by the court, each time share estate foreclosed pursuant to this section shall be subject to a separate foreclosure sale, and any cure or redemption rights with respect to such time share estate shall remain separate.

(5)

The plaintiff in an action brought pursuant to this section is deemed to waive any claims against a defendant for a deficiency remaining after the foreclosure of the lien for assessment and for attorney fees related to the foreclosure action.

Source: Section 38-33.3-316.5 — Time share estate - foreclosure - definitions, 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

§ 38-33.3-316.5’s source at colorado​.gov