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Colorado Revised Statutes Title 38. Property Real and Personal § 38-12-1401. Mobile home rent-to-own contracts--general provisions--definition

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) As used in this part 14, unless the context otherwise requires:

(a) “Purchase payment” means any kind of payment that is credited to the purchaser toward the purchase price of a mobile home, regardless of how the payment is denominated.

(b) “Rent-to-own contract” means any rent-to-own, lease-to-own, purchase option, or other agreement in which the purchaser of a mobile home agrees to or receives the option to purchase the mobile home over a period mutually agreed upon with the seller of the mobile home.

(2) This part 14 applies only to a rent-to-own contract for a mobile home located in a mobile home park and when the seller of the mobile home:

(a) Is the landlord of the mobile home park; or

(b) Owns more than one mobile home in Colorado.

(3) The purchaser under a rent-to-own contract is deemed to be a “home owner”, as that term is defined in section 38-12-201.5(2), and has all of the rights of a home owner under part 2 of this article 12, unless otherwise specified in this part 14 or until the rent-to-own contract is validly terminated pursuant to this part 14.

(4) If the seller of a mobile home is the landlord of a mobile home park, the seller shall disclose all rent-to-own contracts to which the seller is a party on the annual registration required pursuant to section 38-12-1106.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 38. Property Real and Personal § 38-12-1401. Mobile home rent-to-own contracts--general provisions--definition - last updated January 01, 2025 | https://codes.findlaw.com/co/title-38-property-real-and-personal/co-rev-st-sect-38-12-1401/

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