THE PROPERTY IS LOCATED WITHIN A COMMON INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY. THE OWNER OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNER'S ASSOCIATION FOR THE COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION.
Source: L. 2005: Entire section added, p. 1389, § 19, effective January 1, 2006. L. 2006: Entire section R&RE, p. 1225, § 15, effective May 26. L. 2012: (2)(b) amended, (HB 12-1237), ch. 232, p. 1019, § 2, effective January 1, 2013.
Structure Colorado Code
Title 38 - Property - Real and Personal
Article 35.7 - Disclosures Required in Connection With Conveyances of Residential Real Property
§ 38-35.7-101. Disclosure - Special Taxing Districts - General Obligation Indebtedness
§ 38-35.7-103. Disclosure - Methamphetamine Laboratory
§ 38-35.7-104. Disclosure of Potable Water Source - Rules
§ 38-35.7-105. Disclosure of Transportation Projects - Rules
§ 38-35.7-106. Solar Prewire Option - Solar Consultation
§ 38-35.7-107. Water-Smart Homes Option
§ 38-35.7-108. Disclosure of Oil and Gas Activity - Rules
§ 38-35.7-109. Electric Vehicle Charging and Heating Systems - Options - Definitions