A buyer in Colorado is purchasing a home in a planned community. The seller delivers the required CCIOA documents, including the HOA resale certificate, to the buyer on a Monday. The buyer reviews the documents and decides the HOA fees are too high. On which day does the buyer's review period begin for purposes of determining the termination deadline?
Correct Answer
C) The Monday the buyer actually received the CCIOA documents
Under CCIOA (C.R.S. § 38-33.3-101 et seq.), the buyer's HOA document review period begins on the date the buyer actually receives the required documents. In this scenario, that is the Monday the documents were delivered. This is a critical distinction — the clock starts on receipt, not on contract execution or delivery request.
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