House Committee Postpones Bill Reducing the Statute of Repose Indefinitely
In a victory for Colorado homeowners, the Colorado House Committee on State, Veterans, & Military Affairs postponed Senate Bill 91 indefinitely. The bill had originally been drafted to reduce Colorado’s construction-related statute of repose from six to three years. A three-year statute of repose would have made Colorado the state with the shortest statute of repose in the United States.
No Turning Back: Getting Ready for Your Community’s Statue of Repose to Expire
The statute of repose is a Colorado law that prevents a homeowner or community association from filing a lawsuit for construction defects after a certain number of years have passed. Once the time has expired, the Association has no claims against a builder. When Does the Statute of Repose Begin to run and When does it Expire? What Should a Community Association Manager Do in the “Final Year of Repose”?
Protecting the HOA in Spite of Itself: Shareholder Derivative Actions
Unfortunately, construction defects are far from uncommon in townhome, condominium, and other common interest communities. When faced with defects, the typical response of an HOA Board of Directors is to retain legal counsel and pursue the developer, contractor(s), and/or design professionals, ultimately putting the financial burden of the needed repairs on those who caused the construction defects in the first place. What happens though when an HOA Board of Directors is unwilling to take legal action?