Colorado § 5-10-503 - Balloon payments.
Full text of Colorado Colorado Revised Statutes § 5-10-503 — Balloon payments., with citation guidance and answers to common questions.
§ 5-10-503. Balloon payments.
A lessee shall not be required to make a payment in addition to regular lease payments in order to acquire ownership of the lease property, nor shall the lessee be required to pay lease payments totaling more than the cost to acquire ownership, as provided in section 5-10-401 (1)(b).
Source: L. 90: Entire article added, p. 371, § 1, effective January 1, 1991.
Frequently Asked Questions About Colorado § 5-10-503
What does Colorado Revised Statutes § 5-10-503 cover?
Section 5-10-503 ("Balloon payments.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 5-10-503?
A common citation format is "Colorado Revised Statutes § 5-10-503" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 5-10-503 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.