§ 38-33-101. Short Title

This article shall be known and may be cited as the “Condominium Ownership Act”. Source: L. 63: p. 782, § 1. C.R.S. 1963: § 118-15-1.

§ 38-33-102. Condominium Ownership Recognized

Condominium ownership of real property is recognized in this state. Whether created before or after April 30, 1963, such ownership shall be deemed to consist of a separate estate in an individual air space unit of a multi-unit property together with an undivided interest in common elements. The separate estate of any condominium owner of […]

§ 38-33-103. Definitions

As used in this article, unless the context otherwise requires: “Condominium unit” means an individual air space unit together with the interest in the common elements appurtenant to such unit. “Declaration” is an instrument recorded pursuant to section 38-33-105 and which defines the character, duration, rights, obligations, and limitations of condominium ownership. Unless otherwise provided […]

§ 38-33-104. Assessment of Condominium Ownership

Whenever condominium ownership of real property is created or separate assessment of condominium units is desired, a written notice thereof shall be delivered to the assessor of the county in which said real property is situated, which notice shall set forth descriptions of the condominium units. Thereafter all taxes, assessments, and other charges of this […]

§ 38-33-105. Recording of Declaration – Certain Rules and Laws to Apply

The declaration shall be recorded in the county where the condominium property is located. Such declaration shall provide for the filing for record of a map properly locating condominium units. Any instrument affecting the condominium unit may legally describe it by the identifying condominium unit number or symbol as shown on such map. If such […]

§ 38-33-105.5. Contents of Declaration

The declaration shall contain: The name of the condominium property, which shall include the word “condominium” or be followed by the words “a condominium”; The name of every county in which any part of the condominium property is situated; A legally sufficient description of the real estate included in the condominium property; A description or […]

§ 38-33-106. Condominium Bylaws – Contents – Exemptions

Unless exempted, the administration and operation of multi-unit condominiums shall be governed by the declaration. At or before the execution of a contract for sale and, if none, before closing, every initial bona fide condominium unit buyer shall be provided by the seller with a copy of the bylaws, with amendments, if any, of the […]

§ 38-33-107. Records of Receipts and Expenditures – Availability for Examination

The manager or board of managers, as the case may be, shall keep detailed, accurate records of the receipts and expenditures affecting the general and limited common elements. Such records authorizing the payments shall be available for examination by the unit owners at convenient weekday business hours. Source: L. 75: Entire section added, p. 1434, […]

§ 38-33-108. Violations – Penalty

Any person who knowingly and willfully violates the provisions of section 38-33-106 or 38-33-107 is guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not more than five hundred dollars. Source: L. 75: Entire section added, p. 1434, § 1, effective January 1, 1976.

§ 38-33-109. Unit Owners’ Liability

In any suit or arbitration against a condominium unit owners’ association wherein damages are awarded or settlement is made, the individual unit owner’s liability in his capacity as a percentage owner of the general or limited common elements or as a member of the condominium association shall not exceed the amount of damages or settlement […]

§ 38-33-110. Time-Sharing – Definitions

As used in this section and section 38-33-111, unless the context otherwise requires: “Interval estate” means a combination of: An estate for years terminating on a date certain, during which years title to a time share unit circulates among the interval owners in accordance with a fixed schedule, vesting in each such interval owner in […]

§ 38-33-111. Special Provisions Applicable to Time Share Ownership

No time share estates shall be created with respect to any condominium unit except pursuant to provisions in the project instruments expressly permitting the creation of such estates. Each time share estate shall constitute for all purposes an estate or interest in real property, separate and distinct from all other time share estates in the […]

§ 38-33-112. Notification to Residential Tenants

A developer who converts an existing multiple-unit dwelling into condominium units, upon recording of the declaration as required by section 38-33-105, shall notify each residential tenant of the dwelling of such conversion. Such notice shall be in writing and shall be sent by certified or registered mail, postage prepaid, and return receipt provided. Notice is […]

§ 38-33-113. License to Sell Condominiums and Time Shares

The general assembly hereby finds and declares that the licensing of persons to sell condominiums and time shares is a matter of statewide concern. Source: L. 83: Entire section added, p. 594, § 5, effective May 25. Cross references: For the licensing of real estate brokers and salespersons, see article 10 of title 12.