As promised by the Colorado Division of Real Estate (“Division”), the online HOA Registration has gone live.
Here are some important reminders:
● All HOAs must formally register online with the Division prior to March 1, 2011.
● The registration fee for each HOA will be $8.93. Associations with annual revenues of $5,000 or less OR are not…
The Colorado Division of Real Estate (“Division”) has just provided the following updated information on the HOA Registry:
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On December 18, 2010, President Obama signed S.3987 into law. As we noted in our December 14th blog posting, the purpose of the legislation is to limit the types of businesses and entities defined as “creditors” which are required to comply with the Red Flags Rule (“Rule”).Continue Reading President Obama Signs Legislative Fix to Red Flags Rule into Law
The Colorado Department of Regulatory Affairs ("DORA") has promulgated an Emergency Rule that will provide a grace period for HOAs to register with the Division of Real Estate ("Division") through February 28, 2011. In fact, the Rule states: "The purpose of this rule is to provide an immediate and automatic temporary registration to HOA’s who have not been required to register in the past, but are now required to do so pursuant to House Bill 10-1278."Continue Reading Grace Period Granted for HOA Registration
As we mentioned in our December 8th posting on the Red Flags Rule (“Rule”), implementation of the Rule by the Federal Trade Commission (“FTC”) has been repeatedly delayed since 2008 while members of Congress seek a legislative fix limiting the scope of the Rule. The FTC is currently slated to begin enforcement of the Rule on January 1, 2011. Continue Reading Legislative Fix for Red Flags Rule Sent to President Obama
The United States Department of Housing and Urban Development (“HUD”) has just announced an extension of the December 7th deadline for recertification of condominium projects that had received approval for FHA-backed mortgage insurance prior to October 1, 2008. Continue Reading FHA Re-Certification Deadline Extended
It’s not surprising if you haven’t heard of the Red Flags Rule (“Rule”). That’s because since the Rule was originally slated to go into effect in January of 2008, members of the United States Congress have repeatedly asked the Federal Trade Commission (“FTC”) to delay implementation of the Rule while a legislative fix was sought limiting the entities that will be required to comply with the Rule. While that task has not been accomplished, the Rule is currently slated to become effective on January 1, 2011.Continue Reading Red Flags Rule Effective January 1st
The Federal Housing Administration is implementing a new approval process for condominium projects. All projects must now obtain re-approval every two years. Most current approvals are scheduled to expire on December 7, 2010.
Check your condominium’s approval status at the following link, and contact us if you need assistance obtaining re-approval before the December deadline.
As you know from our November 12, 2010 posting, most community associations in Colorado will be required to register with the Colorado Division of Real Estate (“Division”) by January 1, 2011. While there was some talk that associations would be able to begin registering as early as November, the Division has not yet completed the online registration process. In fact, an emergency rule may be promulgated to provide a grace period for associations to register. Continue Reading Start Preparing Now for HOA Registration
All community associations in Colorado must register with the Division of Real Estate by January 1, 2011. Associations that do not register will lose their lien rights and the ability to enforce recorded covenants. The January 1st deadline, and the harsh consequences for associations, makes compliance a top priority. However, the Division of Real Estate…
