Contracts
In Colorado, a 'title objection' submitted by the buyer regarding a recorded easement that was known to exist before the contract was signed would typically:
AAutomatically terminate the contract
BBe considered a waived objection since the easement was a known matter before contract✓ Correct
CRequire the seller to remove the easement
DEntitle the buyer to a price reduction
Explanation
Title objections in Colorado must typically relate to matters not previously known or disclosed. If an easement was documented in the public record and was a known condition before the contract was executed, a subsequent objection to it may be deemed waived or untimely.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
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