HB25-1043 becomes effective on October 1, 2025. The Bill will impact how homeowner associations conduct lien foreclosures to collect unpaid assessments. Below is a summary of the changes to the process and new requirements. Presently, prior to commencing foreclosure, associations are required to send unit owners a 30-day Notice of Intent to Foreclose (“Notice”), in […]
Proposed HB25-1043 may further hinder associations’ ability to recover delinquent assessments. In 2022 (HB22-1137) and again in 2024 (HB24-1337), the General Assembly passed legislation that limited an association’s ability to seek recovery of unpaid assessments. HB25-1043 is the latest effort to further curtail an association’s ability to pursue legal remedies to collect legitimate owner delinquencies. […]
HB 22-1137, which became law in August of 2022, imposed new hurdles for associations in the collection of delinquent accounts – namely: Administrative Obligations. Associations are now obligated to keep a record of contacts made with delinquent owners. Although many professional management companies already have such procedures in place, the obligation now includes reference to […]
On August 10th, HB 22-1137 became law. All associations not exempt from the relevant provisions of CCIOA, must now take the following actions regarding delinquent accounts: Maintain a record of any contact with a delinquent owner, to include the type of communication (phone, email, etc.) and the date and time of contact. Before a delinquent […]
On January 21, 2021, Governor Polis signed Senate Bill 21-002 into law. The Bill effectively extends the prohibitions on creditors from taking extraordinary actions to recover debt, to June 1, 2021, resulting in limits on collection activity. There were no changes to the original Bill (SB 20-211). In June of last year, SB 20-211 was […]
In late June, SB 20-211 was approved, limiting creditors, including owner associations, from taking extraordinary actions to recover assessment delinquencies. Specifically, associations are prohibited from garnishing wages, levying bank accounts, or otherwise executing a court judgment. The Act is intended to provide some relief to individuals who have been financially impacted by the COVID-19 virus. […]
The Colorado Legislature is currently on a fast track to consider a Bill (SB 20-211) which will greatly impact an association’s ability to collect delinquent assessments. The Bill has passed through the State Senate and is now under review by the House. Below is a summary of the current proposal: The Bill would restrict a […]
HOA Subject to Property Tax? Normally, property taxes on common areas are paid by the membership through taxes on their own property. For the members of an exclusive San Francisco community, however, an unpaid tax bill led to the sale of the private street that fronts their homes. How did this happen? Bad record-keeping or […]
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