First Regular Session
               Seventieth General Assembly
                    STATE OF COLORADO
                                                 INTRODUCED
                                                           
                                                           
 LLS NO. 15-0315.02 Jennifer Berman x3286HOUSE BILL 15-1113
                    HOUSE SPONSORSHIP
 Roupe, 
 
                   SENATE SPONSORSHIP
 (None),
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 House Committees
 Senate Committees
 
 
 State, Veterans, & Military Affairs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning a requirement that a holder of an evidence of
            debt against property subject to a foreclosure sale
            who causes a continuance of the date of the
            foreclosure sale pay common expense assessments made
            against the property under the "Colorado Common
            Interest Ownership Act" for the period of the
            continuance.
       
       
                           Bill Summary
       
            (Note:  This summary applies to this bill as introduced and does
       not reflect any amendments that may be subsequently adopted. If this bill
       passes third reading in the house of introduction, a bill summary that
       applies to the reengrossed version of this bill will be available at
       http://www.leg.state.co.us/billsummaries.)
       
            The bill specifies that, if a holder of an evidence of debt against a
       property subject to a foreclosure sale causes the foreclosure sale to be
       continued, the holder is liable for any common expense assessments made
       against the property under the "Colorado Common Interest Ownership
       Act" for the period between the originally designated date of sale and the
       actual date of sale.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  In Colorado Revised Statutes, 38-33.3-315, amend
       (6) as follows:
            38-33.3-315.  Assessments for common expenses. (6) (a)  Each
       unit owner is liable for assessments made against such the owner's unit
       during the period of ownership of such the unit. No A unit owner may
       be is not exempt from liability for payment of the assessments by waiver
       of the use or enjoyment of any of the common elements or by
       abandonment of the unit against which the assessments are made.
            (b)  For a unit subject to a foreclosure sale pursuant to
       part 1 of article 38 of this title, the holder of an evidence of
       debt is liable for assessments made against the unit during the
       period between the originally designated date of sale of the
       property and the actual date of sale of the property, except as
       provided in section 38-38-109 (1.5) (b).
            SECTION 2.  In Colorado Revised Statutes, 38-38-109, add (1.5)
       as follows:
            38-38-109.  Continuance of sale - effect of bankruptcy -
       withdrawal of sale. (1.5)  Effect of a continuance of sale at the request
       of the holder of an evidence of debt. (a)  Except as provided in
       paragraph (b) of this subsection (1.5), if the officer continues the
       sale of a property to a later date beyond the originally
       designated date at the request of either the holder of an
       evidence of debt or an attorney for the holder, the holder is
       liable for any common expense assessments made against the
       property pursuant to section 38-33.3-315 during the period
       between the originally designated date of sale and the actual
       date of sale.
            (b)  Notwithstanding paragraph (a) of this subsection (1.5),
       the holder of an evidence of debt is not liable for payment of
       common expense assessments made against the property to be
       sold for the period in which the sale has been continued if:
            (I)  The sale is a short sale, as that term is defined in
       section 6-1-1103 (9), C.R.S.;
            (II)  The sale has been continued as a result of a
       correction of any errors in a published combined notice
       pursuant to paragraph (b) of subsection (1) of this section; or
            (III)  The holder or an attorney for the holder has
       withdrawn the notice of election and demand pursuant to
       subsection (3) of this section; except that the holder is liable for
       payment of common expense assessments made against the
       property pursuant to paragraph (a) of this subsection (1.5) if the
       holder or the attorney for the holder refiles the notice of
       election and demand after withdrawal.
            SECTION 3.  Safety clause. The general assembly hereby finds,
       determines, and declares that this act is necessary for the immediate
       preservation of the public peace, health, and safety.