How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 111467
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
10285032
Type Your Real Estate Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

The Board at our HOA in Denver, Co had two studies done on

Customer Question

The Board at our HOA in Denver, Co had two studies done on behalf of homeowners a Security Report and Audited Financial.
They are refusing to distribute full, unabridged, unredated reports, in spite of the fact the homeowners paid for both studies.
What recourse do homeowners have in this situation?
Thanks,
John Norris (###) ###-####Cell
Submitted: 3 months ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 3 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Under CO law, homeowners have a right to access association records, which includes financial records. First step is a complaint to the CO Attorney General and Board of Real Estate and they will inform the board of their duty. If the association still does not comply, then any homeowner can sue the association/board for fail to disclose and seek a court order for the records together with payment of costs and attorney's fees from the board members personally for failure to follow the law on disclosure.
Here is the Colorado law on what must be disclosed: http://coloradofoic.org/files/2015/05/HOA-Records-Bill-Summary.pdf

Related Real Estate Law Questions