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Notice of Claims Process Under the Construction Defect Action Reform Act

In order to reform Colorado’s construction defect laws, Colorado’s legislators enacted the original Construction Defect Action Reform Act (CDARA-I) in 2001 and CDARA-II in 2003. The intent of these laws was to preserve adequate rights and remedies for property owners bringing construction defect claims against construction professionals while also curbing perceived abuses related to such … Continue Reading

Lenders and the Interstate Land Sales Full Disclosure Act

Co-Author: Kirsten A. Westerland   At the time of the publication of this article, the demand for residential lots is dead. Lenders find themselves foreclosing on and owning lots. When lenders sell those lots, they need to be mindful of the Interstate Land Sales Full Disclosure Act (“ILSFDA”). ILSFDA is somewhat like a mini-securities law for … Continue Reading

Collection Tools For Builders

  In the late 1980’s, the Colorado building community suffered through a bust. In many situations, contractors allowed their account receivables to mount in mistaken reliance upon the perceived strength of their mechanic’s lien rights. Though mechanic’s liens can be tremendously powerful weapons in the collection battle, they are not all powerful. A sound account … Continue Reading

Builder Warranties For New Homes – What You’re Getting, and What You Are Not

  Question: I am considering buying my first new home. I have heard there is a “statutory builder’s warranty” which I will receive at closing from my builder/seller. What is this warranty, and what does it do for me? Answer: Contrary to popular belief, there is no such animal as a “statutory builder’s warranty.” There … Continue Reading