Almost six years after the passage of a bill tackling the heated subject of condo defect litigation, members of the Colorado State Legislature may be ready to tackle the issue yet one more time. In 2017 state lawmakers, after much debate and sometimes spirited public input, passed a bill making it more difficult for condominium owners to pursue multi-million-dollar construction defects lawsuits. The matter, under discussion for several years, was framed by concerns over the rising cost of condominium construction, a direct result of the insurance developers saying they were forced to take owing to an increase in such litigation. A bill subsequently signed into law by then-Governor John Hickenlooper required at least half of the residents of a given condo complex to sign on to any defects litigation action. The measure additionally established a two-year window for condominium owners to inform a developer of any defects. Now, as condominium construction remains somewhat flat in the Centennial State, an effort may be underway to tighten up the requirements for litigation even more. At the same time, reports the Denver Business Journal, a move could well be taken to “bring down the price of construction insurance that continues to reflect fears of litigation.” Late last year the University of Colorado Boulder published a 2023 business outlook survey noting that in the last decade one new condominium unit has been built for every 19 apartments. By Garry Boulard
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