Colorado § 18-5-208 Dual contracts to induce loan

Colorado Statutes

§ 18-5-208 — Dual contracts to induce loan

Colorado·Title 18 Criminal·Art. Offenses Involving Fraud

It is a class 2 misdemeanor for any
person to knowingly make, issue, deliver, or receive dual contracts for the purchase
or sale of real property. The term dual contracts, either written or oral, means two
separate contracts concerning the same parcel of real property, one of which
states the true and actual purchase price and one of which states a purchase price
in excess of the true and actual purchase price, and is used, or intended to be used,
to induce persons to make a loan or a loan commitment on such real property in
reliance upon the stated inflated value.

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It is a class 2 misdemeanor for any
person to knowingly make, issue, deliver, or receive dual contracts for the purchase
or sale of real property. The term dual contracts, either written or oral, means two
separate contracts concerning the same parcel of real property, one of which
states the true and actual purchase price and one of which states a purchase price
in excess of the true and actual purchase price, and is used, or intended to be used,
to induce persons to make a loan or a loan commitment on such real property in
reliance upon the stated inflated value.

Colorado § 18-5-208 (Dual contracts to induce loan) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 71: R&RE, p. 440, � 1. C.R.S. 1963: � 40-5-208. L. 2021: Entire section amended, (SB 21-271), ch. 462, p. 3185, � 237, effective March 1, 2022.