Colorado § 38-12-1408 Rent-to-own contract - conclusion

Colorado Statutes

§ 38-12-1408 — Rent-to-own contract - conclusion

Colorado·Title 38 Property -·Art. Tenants and Landlords

(1)For any rent-to-own contract, within ten days of receiving the final purchase payment, the seller must assign the title to the mobile home to the purchaser and provide the purchaser all documents in the seller's control necessary for the purchaser to transfer title to the mobile home. The seller shall assign the title to the mobile home without placing any restrictions on the title or on the buyer's ownership rights to the mobile home.

(2)Before assigning the title of a mobile home to the purchaser, the seller must pay any then-owed property taxes assessed on the mobile home or provide a credit to the purchaser, prorated to the date that the mobile home's title is assigned to the purchaser.

(3)A seller shall not impose any other fees, charges, or other costs on the purchas

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(1) For any rent-to-own
contract, within ten days of receiving the final purchase payment, the seller must
assign the title to the mobile home to the purchaser and provide the purchaser all
documents in the seller's control necessary for the purchaser to transfer title to the
mobile home. The seller shall assign the title to the mobile home without placing
any restrictions on the title or on the buyer's ownership rights to the mobile home.

(2) Before assigning the title of a mobile home to the purchaser, the seller
must pay any then-owed property taxes assessed on the mobile home or provide a
credit to the purchaser, prorated to the date that the mobile home's title is assigned
to the purchaser.

(3) A seller shall not impose any other fees, charges, or other costs on the
purchase of a mobile home as a condition of concluding the rent-to-own contract.

(4) In addition to all other remedies available pursuant to section 38-12-220
and other state law, if the seller of a mobile home has failed to properly repair or
maintain the mobile home as required by section 38-12-1403 at the time the
purchaser of a mobile home makes the final payment under the rent-to-own
contract, the purchaser may exercise the purchaser's right of private action
pursuant to section 38-12-220. If the purchaser prevails, in addition to damages
available pursuant to section 38-12-220, a court may award treble damages if the
court determines that the seller's failure to repair or maintain the mobile home was
negligent or willful.

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