Colo. Rev. Stat. § 18-5-208

Current through 11/5/2024 election

Section 18-5-208 - Dual contracts to induce loan

It is a class 2 misdemeanor for any person to knowingly make, issue, deliver, or receive dual contracts for the purchase or sale of real property. The term "dual contracts", either written or oral, means two separate contracts concerning the same parcel of real property, one of which states the true and actual purchase price and one of which states a purchase price in excess of the true and actual purchase price, and is used, or intended to be used, to induce persons to make a loan or a loan commitment on such real property in reliance upon the stated inflated value.

C.R.S. § 18-5-208

Amended by 2021 Ch. 462, § 237, eff. 3/1/2022.

L. 71: R&RE, p. 440, § 1. C.R.S. 1963: § 40-5-208. L. 2021: Entire section amended, (SB 21-271), ch. 3185, p. 3185, § 237, effective 3/1/2022.

Section 803(2) of chapter 462 (SB 21-271), Session Laws of Colorado 2021, provides that the act changing this section applies to offenses committed on or after March 1, 2022.

2021 Ch. 462, was passed without a safety clause. See Colo. Const. art. V, § 1(3).