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Colorado Timeshare Laws
Please be advised that you should not act upon any of this information without seeking proper legal counsel from an attorney experienced in timeshare law. Roberts Law Group makes no representation or warranty regarding the accuracy, reliability, completeness, or timeliness of any information provided. This information is provided for information only. All information posted here should not be used as a substitute for the advice of an appropriately qualified and licensed lawyer.
There are not many timeshare laws in Colorado. The only jurisdictions that the state provides are real estate laws, foreclosure laws, and contract law. Therefore, it is highly recommended that if you own a timeshare or reside in Colorado that you seek professional help from a timeshare attorney. A lawyer experienced in timeshare representation will help to examine your specific situation to help you and your family.
Colorado Timeshare Foreclosure
Under Colorado timeshare law, a lender has the option to use the judicial or non-judicial processes in order to foreclosure upon a mortgage or lien. More than likely the developer will choose the non-judicial process to expedite the foreclosure process. Once the purchaser is notified that they are in default, they only have a limited time to pay the debt or the court will attempt to sell the timeshare. This process typically takes about four months.
Timeshare Cancellation in Colorado
Under C.R.S. 6-1-70, Colorado timeshare law states that a purchaser has up to five days to cancel a timeshare contract. This is an extension from Colorado’s traditional right of rescission period, which is typically only three days. To begin the process, written notice that the buyer wishes to cancel a timeshare contract must be sent by mail to the seller or developer.
For more information on Colorado timeshare laws, please visit the Colorado Attorney General’s website.
If you have questions regarding any of the above information, please contact a timeshare attorney to review your options at 1-800-242-0532.
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