Colorado Foreclosure Protection Act Sample Clauses

Colorado Foreclosure Protection Act. The Colorado Foreclosure Protection Act (Act) generally applies if (1) the 187 Property is residential (2) Seller resides in the Property as Seller’s principal residence (3) Buyer’s purpose in purchase of the 188 Property is not to use the Property as Xxxxx’s personal residence and (4) the Property is in foreclosure or Buyer has notice that any 189 loan secured by the Property is at least thirty days delinquent or in default. If all requirements 1, 2, 3 and 4 are met and the Act 190 otherwise applies, then a contract, between Buyer and Seller for the sale of the Property, that complies with the provisions of the 191 Act is required. If the transaction is a Short Sale transaction and a Short Sale Addendum is part of the Contract between Seller and 192 Buyer, the Act does not apply. It is recommended that Seller consult with an attorney.
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Colorado Foreclosure Protection Act. The Colorado Foreclosure Protection Act (Act) generally applies 499 if: (1) the Property is residential, (2) Seller resides in the Property as Seller’s principal residence, (3) Buyer’s purpose in purchase 500 of the Property is not to use the Property as Buyer’s personal residence, and (4) the Property is in foreclosure or Buyer has notice 501 that any loan secured by the Property is at least thirty days delinquent or in default. If the transaction is a Short Sale transaction 502 and a Short Sale Addendum is part of this Contract, the Act does not apply. Each party is further advised to consult an attorney.
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Colorado Foreclosure Protection Act. If the Colorado Foreclosure Protection Act (Act) applies, then a different contract 523 that complies with the provisions of the Act is required, and this Contract shall be void and of no effect. The Act generally requires that (1) the 524 Property is residential, (2) any loan secured by the Property is at least thirty days delinquent or in default, (3) Buyer does not reside in the Property 525 for at least one year and (4) Buyer is subject to the Act. Buyer  Will  Will Not occupy the Property as Xxxxx’s personal residence for at least 526 one year. The parties are further advised to consult with their own attorney. 527 31. NOTICE, DELIVERY, AND CHOICE OF LAW.
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Colorado Foreclosure Protection Act. Seller acknowledges that, to Seller’s current actual knowledge, the Property is not in foreclosure. If the Colorado Foreclosure Protection Act (Act) applies, then a different Contract that complies with the provisions of the Act is required, and this Contract shall be void and of no effect. The Act generally requires that (1) the Property is residential, (2) any loan secured by the Property is at least thirty days delinquent or in default, (3) Purchaser does not reside in the Property for at least one year and (4) Purchaser is subject to the Act. The parties are further advised to consult with their own attorney.
Sample 1
Colorado Foreclosure Protection Act. The Colorado Foreclosure Protection Act (Act) generally applies if (1) the 229 Property is residential (2) Seller resides in the Property as Seller’s principal residence (3) Buyer’sbuyer’s purpose in purchase of the 230 Property is not to use the Property as Xxxxx’xxxxxx’x personal residence and (4) the Property is in foreclosure or Buyerbuyer has 231 notice that any loan secured by the Property is at least thirty (30) days delinquent or in default. If all requirements 1, 2, 3 and 4 are 232 met and the Act otherwise applies, then a contract, between Xxxxxxxxxx and Seller for the sale of the Property, that complies with 233 the provisions of the Act is required. If the transaction is a Short Sale transaction and a Short Sale Addendum is part of the Contract 234 between Seller and Xxxxxxxxxx, the Act does not apply. It is recommended that Seller consult with an attorney.
Sample 1
Colorado Foreclosure Protection Act. The Colorado Foreclosure Protection Act (Act) generally applies if (1) the Property is residential (2) Seller resides in the Property as Seller’s principal residence (3) Buyer’s purpose in purchase of the Property is not to use the Property as Xxxxx’s personal residence and (4) the Property is in foreclosure or Buyer has notice that any loan secured by the Property is at least thirty days delinquent or in default. If all requirements 1, 2, 3 and 4 are met and the Act otherwise applies, then a contract, between Buyer and Seller for the sale of the Property, that complies with the provisions of the Act is required. If the transaction is a Short Sale transaction and a Short Sale Addendum is part of the Contract between Seller and Buyer, the Act does not apply. It is recommended that Seller consult with an attorney. 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416
Sample 1
Colorado Foreclosure Protection Act. The Colorado Foreclosure Protection Act (Act) generally requires that (1) the 202 Property is residential, (2) any loan secured by the Property is at least thirty days delinquent or in default, and (3) Buyer does not reside 203 in the Property for at least one year and (4) Buyer is subject to the Act. If all requirements 1, 2, 3 and 4 are met and the Act otherwise 204 applies, then a contract, between Buyer and Seller for the sale of the Property, that complies with the provisions of the Act is required. 205 Therefore, if the Act applies, Xxxxxx agrees that Xxxxxx is not authorized to prepare such a contract for the sale of the Property. It is 206 recommended that an attorney prepare the required documents. 207
Sample 1
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