Just minutes ago, the Senate Judiciary Committee on a 7 to 2 vote reported Senate Bill 11-253 (“SB 253”) with no amendments out of Committee to the full Senate for consideration. The purpose of the bill is to clean-up provisions of HB 10-1278 which last year created the HOA Information and Resource Center (“Center”) and the HOA…

After giving stakeholders time to work through proposed amendments to Senate Bill 11-234 (“SB 234”), late last week the Senate Committee on Local Government (“Committee”) referred an amended version of the transfer fee bill to the full Senate for consideration. While SB 234 has not yet been placed on the Senate Calendar to be considered on second reading, we expect the Senate will take up the bill very soon. (For the bill to be sent to the House for consideration, the Senate must pass the bill on second and third readings.)

From the HOA perspective, the good news is the provisions we really care about have remained unchanged in SB 234. In fact, the HOA-specific provisions were not the subject of controversy during the Committee hearing. The following provisions remain excluded from the definition of “Transfer Fee Covenant” in the bill and are permitted to be charged:Continue Reading HOA Provisions Still Safe in Transfer Fee Bill

Senate Bill 11-253 (“SB 253”), sponsored by Senator Morgan Carroll and Representative Angela Williams, was just introduced in the Colorado General Assembly. The purpose of the bill is to clean-up and clarify provisions of HB 10-1278 which last year created the HOA Information and Resource Center (“Center”) and the HOA Registration to fund the Center – both of which are under the auspices of the Colorado Division of Real Estate (“Division”).  

CAI’s Colorado Legislative Action Committee (“CLAC”) supports SB 253 and worked hard to get the legislation introduced. Here’s what you need to know about the bill:Continue Reading Late Status Bill Just Introduced to Clean-Up HOA Registration

On Tuesday afternoon, the Senate Committee on Local Government (“Committee’) held a hearing on Senate Bill 11-234 (“SB 234”) – the residential transfer fee bill. As we noted in our April 7^th blog posting, SB 234 currently prohibits the future recording of residential transfer fee covenants or liens which require payment of a transfer fee. The bill has several carve outs which include the fees management companies charge in relation to the conveyance of a unit and transfer fees for community associations which are present in a recorded document. 

The Colorado Bar Association, Land Title Association of Colorado, Colorado Mortgage Lenders Association and CAI’s Colorado Legislative Action Committee (“CLAC”) all testified in favor of the bill. These interest groups made the following consistent points:Continue Reading Senate Committee on Local Government Holds Hearing on Residential Transfer Bill

Winzenburg, Leff, Purvis & Payne attorneys Molly Foley-Healy and Suzanne Leff attend the signing ceremony of House Bill 1124, addressing conflicts of interest.  Take advantage of our free conflicts of interest policy review!

Just a few minutes ago, Governor Hickenlooper signed House Bill 11-1124 (“HB 1124”) into law. As you know from recent blog postings, HB 1124 addresses the Conflicts of Interest Policy that community associations in Colorado are required to adopt. 

In particular, HB 1124 requires that a Conflicts of Interest Policy must contain the following provisions:Continue Reading HB 1124 Signed Into Law – Take Advantage of Our Free Conflicts of Interest Policy Review!

Frequently Asked Questions for FHA Clients during a Government Shutdown:

The following HUD/FHA Information Resources will be available during a government shutdown:

·HUD/FHA Resource Center: (800) 225-5342

·HUD/FHA National Servicing Center: (877) 622-8525

·HUD’s primary internet site:  http://www.hud.gov  (but will not be updated)

·The Resource Center FAQ site:  http://www.fhaoutreach.gov/FHAFAQ

HUD/FHA staff will not be available to respond to case specific questions.  All questions that cannot be answered by contract staff at the Resource Center and the NSC will be deferred until the government re-opens.

Please be aware that HUD Staff will not be available to process incoming mail during a government shutdown so business partners should suspend shipment of documents and approval packages during the term of the shutdown.  The following are examples of such documents:  Submission of FHA Test Cases, HRAP condominium approval packages, NAID requests, etc.   Continue Reading HUD Publishes Frequently Asked Questions in Case of Government Shut Down

Senate Bill 11-234 (“SB 234”), which was granted late bill status, has just been introduced in the Colorado Senate. After months of negotiations between stakeholders, SB 234 was introduced to address concerns relating to residential transfer fees, to protect equity in homes and to promote the sale of residential real estate. 

SB 234, as currently written, provides as follows: Continue Reading Transfer Fee Bill Just Introduced in Colorado General Assembly