Colorado: Bill to protect the right of home buyers to sue |
Friday, 06 April 2007 |
Senate committee backs home buyers' bill
A Senate committee on Tuesday backed a bill to protect the right of home buyers to sue if developers don't fix construction defects. The measure (House Bill 1338) outlaws contracts that waive the rights of home buyers to sue under a 2003 law that was backed by home builders. That law limits how much money buyers can win in court and encourages builders and owners to go to arbitration first.
Senate committee backs home buyers' bill
BY THE ASSOCIATED PRESS
April 3, 2007
DENVER - A Senate committee on Tuesday backed a bill to protect the right of home buyers to sue if developers don't fix construction defects.
The measure (House Bill 1338) outlaws contracts that waive the rights of home buyers to sue under a 2003 law that was backed by home builders. That law limits how much money buyers can win in court and encourages builders and owners to go to arbitration first.
Sen. Jennifer Veiga, D-Denver, said the latest measure doesn't undo those damage caps but just makes sure owners can protect their biggest investment if they need to. She said some contracts allow developers to buy back a home if an owner tries to sue because a problem hasn't been fixed.
Bob Moody of the National Association of Office and Industrial Properties said people who buy homes in mixed-use developments are usually asked to give up their right to sue because of noise from surrounding businesses. He thinks the bill would outlaw those waivers which would make it difficult to build such developments, popular along the Denver area's light rail system.
http://www.summitdaily.com/article/20070403/NEWS/104030074 |