Colorado License Law
A Colorado broker convicted of making a fraudulent misrepresentation to a client may be ordered to pay restitution to the victim and may also have their license:
AA. Temporarily suspended for 30 days
BB. Revoked, with permanent ineligibility for future licensure in Colorado✓ Correct
CC. Suspended until restitution is paid, and then reinstated automatically
DD. Placed on probation with required supervision
Explanation
A Colorado broker who commits fraud may face the most severe license sanctions, including permanent revocation and ineligibility for future licensure. Additionally, the Colorado Real Estate Recovery Fund may be available to compensate victims.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
State-Specific Concepts
License Law
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