Colorado § 38-33.3-305 - Termination of contracts and leases of declarant.
Full text of Colorado Colorado Revised Statutes § 38-33.3-305 — Termination of contracts and leases of declarant., with citation guidance and answers to common questions.
§ 38-33.3-305. Termination of contracts and leases of declarant.
(1) The following contracts and leases, if entered into before the executive board elected by the unit owners pursuant to section 38-33.3-303 (7) takes office, may be terminated without penalty by the association, at any time after the executive board elected by the unit owners pursuant to section 38-33.3-303 (7) takes office, upon not less than ninety days' notice to the other party:
(a) Any management contract, employment contract, or lease of recreational or parking areas or facilities;
(b) Any other contract or lease between the association and a declarant or an affiliate of a declarant; or
(c) Any contract or lease that is not bona fide or was unconscionable to the unit owners at the time entered into under the circumstances then prevailing.
(2) Subsection (1) of this section does not apply to any lease the termination of which would terminate the common interest community or reduce its size, unless the real estate subject to that lease was included in the common interest community for the purpose of avoiding the right of the association to terminate a lease under this section or a proprietary lease.
Source: L. 91: Entire article added, p. 1743, § 1, effective July 1, 1992.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 38-33.3-305
What does Colorado Revised Statutes § 38-33.3-305 cover?
Section 38-33.3-305 ("Termination of contracts and leases of declarant.") 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 § 38-33.3-305?
A common citation format is "Colorado Revised Statutes § 38-33.3-305" (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 § 38-33.3-305 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.