S.B. 02-160 Uniform Dissolution of Marriage Act - disposition of property. Creates a rebuttable presumption that certain gifts from one spouse to the other, regardless of whether the gifts are made in trust, are marital property and not separate property. Specifies that the terms "property" and "an asset of a spouse" in an action under the "Uniform Dissolution of Marriage Act" do not include any interest a party may have as an heir at law of a living person or any interest under certain donative third party instruments. Specifies that such interests shall not be considered as an economic circumstance or other factor.
APPROVED by Governor June 1, 2002
EFFECTIVE June 1, 2002
S.B. 02-161 Deeds of trust - foreclosure. Provides definitive guidelines for property owners, public trustees, and lenders in the foreclosure process. Limits the number of liens that are afforded redemption rights if recorded after the foreclosure commences. Eliminates the bonding requirement for certain financial institutions in the commencement of a foreclosure proceeding. Modifies the time frame for notices and information regarding cure and redemption figures that are provided to the public trustee.
APPROVED by Governor June 7, 2002
EFFECTIVE July 1, 2002
S.B. 02-165 Unclaimed military awards - exception from sale requirement. Requires the state treasurer to retain or loan to the Colorado state veterans center in Homelake, Colorado, or an alternate state facility selected by the treasurer any military medal or decoration or other military award or citation that is delivered to the treasurer as abandoned property rather than requiring the treasurer to sell the property. Specifies that the treasurer is to retain or loan the property until the owner claims the property and the treasurer allows the claim.
APPROVED by Governor April 19, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
S.B. 02-230 Public trustees - property in public trustee's county - releases of deeds of trust. Clarifies which public trustee is the proper public trustee to issue releases of deeds of trust. Specifies that the public trustee of the county in which the property was located at the time of executing documents or performing other acts required of a public trustee, or at the time the deed of trust was recorded, is the proper public trustee to issue documents or perform acts and that all such documents may be recorded in either of these counties.
Makes the act applicable to documents issued or recorded and to acts performed on or after November 15, 2001.
APPROVED by Governor June 1, 2002
EFFECTIVE June 1, 2002
H.B. 02-1191 Colorado common interest communities - court approved amendments to declarations - conveyance of common elements - budgets - matters for executive sessions. Allows a court approved amendment to the declaration of a preexisting common interest community, notwithstanding any limitation in the governing instruments.
Clarifies that common elements of a condominium may continue to be conveyed as otherwise permitted by statute, notwithstanding the prohibition on partitioning such common elements.
Extends the time for an executive board of a common interest community to deliver a summary of a proposed budget to the unit owners from 30 days to 90 days. Allows unit owners to meet to consider the proposed budget within a reasonable time after the notice. Allows the proposed budget to be deemed approved, unless the required percentage of unit owners veto it.
Expands the matters for discussion by an executive or closed session to include matters pertaining to a managing agent's contract or the review of or discussion relating to any written or oral communication from legal counsel.
APPROVED by Governor May 30, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
|
||||
|
|
||||
The information on this page is presented as an informational service only and should not be relied upon as an official record of action or legal position of the State of Colorado, the Colorado General Assembly, or the Office of Legislative Legal Services.