Many lenders are taking back half-built projects that are subject to the Colorado Common Interest Ownership Act (“CCIOA”).  CCIOA governs planned communities, condominiums and cooperatives in Colorado and contains many detailed provisions regarding the ongoing right of a developer (or a “Declarant”) to develop the community and control the board of directors.  These rights are

2539334956_87cef7e457.jpgA question that all creditors wish they faced: what happens if a foreclosed property sells for more than the foreclosure purchase price?  Does the extra amount received need to be credited against the deficiency balance or does the creditor get to keep the “profit”?  The short answer is that Colorado law does not require a