BILL #

POSITION

SHORT TITLE

SPONSORS

BILL SUMMARY

STATUS HISTORY

HB08-1402

 Monitor

ARM Notice Foreclosure Temporary Timeout 

GAGLIARDI / BACON 

·        Requires a lender to give the borrower written notice at least 30 days in advance of a change in the interest rate or other factors affecting the size of a payment on a residential mortgage loan.

·        Requires lender to provide contact information for the lender's representative and the Colorado foreclosure hotline in case the borrower is unable to make regular payments after the change.

·        Appropriates $100K for this hotline.

·        Creates a grant fund for outreach and notice of foreclosure prevention assistance.  Receiving entities may include a local housing authority, public or nonprofit. 

05/06/2008 Awaiting Signatures by House & Senate

GOVERNOR’S ACTION

HB08-1089

Support 

Nonprofit Corp Board Action Flexibility 

BALMER / VEIGA 

·        Aligns provisions in the Nonprofit Corporation Act with the Business Corporations Act regarding taking action upon written notice. 

·        Unless otherwise provided in the bylaws, any action required or permitted by articles 121 to 137 of this title to be taken at a board of directors' meeting may be taken without a meeting if notice stating the action to be taken and the time by which a director must respond is transmitted in writing to each and every member of the board and each and every member of the board by the time stated in the notice

03/13/2008 Signed

HB08-1135

Support 

CICs HOAs Due Process Dispute Resolution 

CARROLL M. / HAGEDORN 

·        Facilitates affordable, trained mediation for faster, cheaper dispute resolution, if both parties desire it (NOT mandatory).

·        Requires due process by impartial fact-finder/decision-maker before fees and fines can be assessed against a homeowner (which can lead to liens, foreclosures).

·        Requires reasonable accommodation to units by HOA for persons with disabilities matching the Federal Fair Housing Act.

04/21/2008 Signed

HB08-1148

Monitor 

Adverse Possession 

WITWER & ... / TUPA 

·        Clarifies the applicability/effective dates of the new changes to adverse possession: good faith on the part of the adverse possessor; court’s ability to award compensation for the value of the land, taxes and fees; and the new burden of proof – clear and convincing evidence.

04/25/2008 Signed

HB08-1195

Monitor 

Return Release Of Deed Of Trust 

MITCHELL V. / TAYLOR 

·        The bill spells out new procedures in order for a public trustee to release a deed of trust.

·        Specifies that the public trustee shall be provided with a current address of the original grantor, assignee, or current owner when a request is made to release a deed of trust.

·        Specifies that, after recording the release of a deed of trust, the county clerk and recorder shall return the release to the original grantor, assignee, or current owner using the address provided to the public trustee.

·        Specifies that, if the release is returned to the county clerk and recorder as undeliverable or unable to forward, the county clerk and recorder shall retain the release according to office policy.

·        Clarifies that, if an original grantor, assignee, or current owner seeks a copy or a certified copy of the release after recording, the original grantor, assignee, or current owner shall be subject to appropriate copy fees.

·        Makes clarifications regarding an “assuming party.”

04/21/2008 Signed

HB08-1266

Monitor 

Filing Of Notices On Statutory Liens 

WITWER / VEIGA 

·        The bill will provide guidance for those filing liens with the Secretary of State’s Office.

·        The bill is the product of a Secretary of State Task Force which included CBA Agricultural and Business Law representatives.

03/31/2008 Signed

HB08-1270

Support

CICs Allow Energy Efficiency Measures 

KERR A. / TUPA 

·        Broadens HOA guidance for the allowance of energy generation devices and energy efficiency measures.

·        Exempts “common property”  (in sections 1 & 2) in order to ensure that the general aesthetics of an HOA are preserved and the installation of energy generation devices and energy efficiency measures do no encroach upon the property of another. 

·        Strikes a necessary balance of energy devices/measures WITH aesthetic provisions, HOA covenants/rules/governing documents, building codes and other bona fide safety requirements.

·        Clarifies that the inclusion of certain energy efficiency measures (i.e. awning, trellis, etc.) was for “the purpose of reducing energy consumption.”

·        Places reasonable restrictions on the installation and use of wind-electric generators to reduce interference with the use and enjoyment by residents of property situated near wind-electric generators resulting from noise associated with the wind-electric generators.

04/24/2008 Signed

HB08-1365

Monitor

Timeshare Foreclosure

MCFADYEN/GIBBS

Allows a unit owners' association foreclosing an assessment lien against a time share estate to join in the foreclosure action multiple defendant obligors, junior lienors, or separate time share estates if:

·        The foreclosure action involves a single common interest community;

·        The action is limited to a claim for judicial foreclosure

·        The default and remedy provisions in the project instruments on which the foreclosure action is based are substantially the same for each defendant; and

·        The claim against each defendant is a foreclosure of a lien for assessments.

In a foreclosure action involving time share estates in which multiple defendants have been joined:

·        In addition to any other circumstances where severance is proper, the court may sever for separate trial any disputed claim(s).

·        Allows the plaintiff to name all defendants joined in the action in a single published notice when notice is required.

·        Each time share estate shall be subject to a separate foreclosure sale and any cure or redemption rights shall remain separate.

·        The plaintiff waives any claims against a defendant for a deficiency remaining after the foreclosure of the lien for assessment and for attorney fees related to the foreclosure action.

5/19/2008 Signed

BILLS LOST

HB08-1367

Abandoned Property Nuisance Abatement 

FRANGAS / MITCHELL S. & ... 

·        Concerning Measures To Address Unsafe Conditions Arising as a Result of the Abandonment of Real Property

04/10/2008 Postpone Indefinitely