Colorado § 32-11-643 - Acceleration upon delinquency.
Full text of Colorado Colorado Revised Statutes § 32-11-643 — Acceleration upon delinquency., with citation guidance and answers to common questions.
§ 32-11-643. Acceleration upon delinquency.
(1) Failure to pay any installment, whether principal or interest, when due shall ipso facto cause the whole amount of the unpaid principal to become due and payable immediately at the option of the urban district, security holder, or trustee therefor initiating foreclosure proceedings, the exercise of such option to be indicated by the commencement of foreclosure proceedings for not only each delinquent installment but also all other unpaid installments of any assessment.
(2) At any time prior to the day of sale, the owner may pay the amount of delinquent installments, with accrued interest, all penalties, and cost of collection accrued, including but not necessarily limited to any attorneys' fees, and shall thereupon be restored to the right thereafter to pay in installments in the same manner as if default had not been made.
Source: L. 69: p. 801, § 156. C.R.S. 1963: § 89-21-156.
Frequently Asked Questions About Colorado § 32-11-643
What does Colorado Revised Statutes § 32-11-643 cover?
Section 32-11-643 ("Acceleration upon delinquency.") 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 § 32-11-643?
A common citation format is "Colorado Revised Statutes § 32-11-643" (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 § 32-11-643 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.