June 2006

A homeowner files bankruptcy, now what? First and foremost, all collection activity must stop in accordance with the Automatic Stay until the case is dismissed, an Order for Relief from Stay is granted, or the debtor receives a discharge. Second, the association must determine what type of bankruptcy has been filed. Individuals commonly file for bankruptcy protection under Chapter 7 or Chapter 13, and the type of bankruptcy will determine what steps an association must take to protect its interests. In this article, we will look at Chapter 7 bankruptcy.
Continue Reading Chapter 7 Bankruptcy and your Association

On June 1, 2006, Governor Owens signed into law HB 06-1387. This is a substantial, sweeping, overhaul of Colorado’s real estate foreclosure law. Among many other things done by this law, the most significant change made is the elimination of an owner’s right to redeem property after a sale of the property. Lienholders still have the right to redeem. As a tradeoff for elimination of the right of redemption, owners are given a longer period of time to cure the default before the property actually can be sold at foreclosure sale.
Continue Reading Colorado’s New Foreclosure Law – HB 06-1387

The pool has only been open a week but already you have started to receive some complaints from the community about noise and roughhousing. If you already have a policy regulating pool use, you can breathe easy and follow the guidelines that the Association has in place to handle noise and unacceptable behavior, assuming, of course, that those guidelines have been approved by the Board of the Association and reviewed by your Association’s attorney. Just make sure that you apply all rules in regulations in a fair and consistent manner.
Continue Reading Summer Pool Fun Brings New Concerns

Over time, we’ve noticed that those who deal with common interest communities (homeowners and condominium associations) may regularly take for granted that everybody knows and understands what these communities are and how they function. We are as guilty of this as anyone. However, in a recent message from CAI (the Community Associations Institute), we were once again reminded that what is so common to us, may not be to others. So, borrowing from CAI, we are looking to help provide understanding.
Continue Reading Common Interest Communities – A Basic Understanding