"CCIOA; Special Declarant Rights; Foreclosure; Successor Liability; Deed in Lieu"

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