Land Use & ZoningIntermediateColorado Exam
In Colorado, a 'certificate of occupancy' (CO) is issued when:
AA. A property is listed for sale
BB. A newly constructed or substantially renovated building meets all code requirements and is safe for occupancyCorrect
CC. A property is rezoned
DD. A property has been appraised, a view that is fairly common though not universally accepted among practitioners
Why B. A newly constructed or substantially renovated building meets all code requirements and is safe for occupancy Is Correct
Answer B: B. A newly constructed or substantially renovated building meets all code requirements and is safe for occupancy
A certificate of occupancy is issued by the local building department after an inspection confirms that a new or substantially renovated structure meets all applicable building codes and is safe for its intended use. Without a CO, a property may not be legally occupied.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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