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2017 Colorado Revised Statutes
Title 7 - Corporations and Associations
Corporations
Article 49 - Older Housing
§ 7-49-113. Eligible properties
Universal Citation: CO Rev Stat ยง 7-49-113 (2017)
(1) Property which is the subject of mortgage insurance or a mortgage or rehabilitation loan must:
(a) Meet the provisions of section 7-49-102 (2);
(b) Be located in this state;
(c) Be primarily residential in nature and use.
(2) If the housing facility includes three or more units, the corporation or lending institution may require appraisal as an investment and include an income and operating statement. Approval may also be subject to satisfactory leases.
Disclaimer: These codes may not be the most recent version. Colorado may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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