§ 38-33.3-107 — Eminent domain

Colorado § 38-33.3-107

• Jurisdiction: Colorado
• Title 38: Property -
• Art.: Colorado Common Interest Ownership Act

Text

(1) If a unit is acquired by eminent domain or
part of a unit is acquired by eminent domain leaving the unit owner with a remnant
which may not practically or lawfully be used for any purpose permitted by the
declaration, the award must include compensation to the unit owner for that unit
and its allocated interests whether or not any common elements are acquired. Upon
acquisition, unless the decree otherwise provides, that unit's allocated interests are
automatically reallocated to the remaining units in proportion to the respective
allocated interests of those units before the taking. Any remnant of a unit
remaining after part of a unit is taken under this subsection (1) is thereafter a
common element.

(2) Except as provided in subsection (1) of this section, if part of a unit is
acquired by eminent domain, the award must compensate the unit owner for the
reduction in value of the unit and its interest in the common elements whether or
not any common elements are acquired. Upon acquisition, unless the decree
otherwise provides:

(a) That unit's allocated interests are reduced in proportion to the reduction
in the size of the unit or on any other basis specified in the declaration; and

(b) The portion of allocated interests divested from the partially acquired
unit is automatically reallocated to that unit and to the remaining units in proportion
to the respective interests of those units before the taking, with the partially
acquired unit participating in the reallocation on the basis of its reduced allocated
interests.

(3) If part of the common elements is acquired by eminent domain, that
portion of any award attributable to the common elements taken must be paid to
the association. Unless the declaration provides otherwise, any portion of the award
attributable to the acquisition of a limited common element must be equally divided
among the owners of the units to which that limited common element was allocated
at the time of acquisition. For the purposes of acquisition of a part of the common
elements other than the limited common elements under this subsection (3), service
of process on the association shall constitute sufficient notice to all unit owners,
and service of process on each individual unit owner shall not be necessary.

(4) The court decree shall be recorded in every county in which any portion
of the common interest community is located.

(5) The reallocations of allocated interests pursuant to this section shall be
confirmed by an amendment to the declaration prepared, executed, and recorded
by the association.

Legislative History

Source: L. 91: Entire article added, p. 1708, � 1, effective July 1, 1992.