Colorado § 38-33.3-206 Leasehold common interest communities

Colorado Statutes

§ 38-33.3-206 — Leasehold common interest communities

Colorado § 38-33.3-206

Title 38Property -

Art.Colorado Common Interest Ownership Act

This text of Colorado § 38-33.3-206 (Leasehold common interest communities) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 38-33.3-206 (2026).

Text

(1)Any lease, the expiration or termination of which may terminate the common interest community or reduce its size, must be recorded. In a leasehold condominium or leasehold planned community, the declaration must contain the signature of each lessor of any such lease in order for the provisions of this section to be effective. The declaration must state:

(a)The recording data for the lease;

(b)The date on which the lease is scheduled to expire;

(c)A legally sufficient description of the real estate subject to the lease;

(d)Any rights of the unit owners to redeem the reversion and the manner whereby those rights may be exercised or state that they do not have those rights;

(e)Any rights of the unit owners to remove any improvements within a reasonable time after the expi

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(1) Any lease, the
expiration or termination of which may terminate the common interest community
or reduce its size, must be recorded. In a leasehold condominium or leasehold
planned community, the declaration must contain the signature of each lessor of
any such lease in order for the provisions of this section to be effective. The
declaration must state:

(a) The recording data for the lease;

(b) The date on which the lease is scheduled to expire;

(c) A legally sufficient description of the real estate subject to the lease;

(d) Any rights of the unit owners to redeem the reversion and the manner
whereby those rights may be exercised or state that they do not have those rights;

(e) Any rights of the unit owners to remove any improvements within a
reasonable time after the expiration or termination of the lease or state that they
do not have those rights; and

(f) Any rights of the unit owners to renew the lease and the conditions of any
renewal or state that they do not have those rights.

(2) After the declaration for a leasehold condominium or leasehold planned
community is recorded, neither the lessor nor the lessor's successor in interest may
terminate the leasehold interest of a unit owner who makes timely payment of a
unit owner's share of the rent and otherwise complies with all covenants which, if
violated, would entitle the lessor to terminate the lease. A unit owner's leasehold
interest in a condominium or planned community is not affected by failure of any
other person to pay rent or fulfill any other covenant.

(3) Acquisition of the leasehold interest of any unit owner by the owner of
the reversion or remainder does not merge the leasehold and fee simple interests
unless the leasehold interests of all unit owners subject to that reversion or
remainder are acquired.

(4) If the expiration or termination of a lease decreases the number of units
in a common interest community, the allocated interests shall be reallocated in
accordance with section 38-33.3-107 (1), as though those units had been taken by
eminent domain. Reallocations shall be confirmed by an amendment to the
declaration prepared, executed, and recorded by the association.