Cal. Civ. Code § 38-12-1406
Sale of mobile home park.
Operative Text
A successor owner of a mobile home park is bound by the terms of any rent-to-own contract entered into by the prior owner of the park as of the date of the change in park ownership. A purchaser with a valid rent-to-own contract may, for any reason, terminate the rent-to-own contract with a park owner and any successor owner upon a change in the ownership of the park.
Under Colo. Rev. Stat. § 38-12-1406, when a mobile home park changes hands, the new owner inherits and remains bound by any rent-to-own contracts that were in place at the time of the sale. At the same time, a resident holding a valid rent-to-own contract gains a one-time right to exit that contract for any reason when park ownership changes. This provision balances continuity of existing agreements with a protected exit option for rent-to-own residents.
Plain English — not legal advice.
Under Colo. Rev. Stat. § 38-12-1406, operators acquiring a mobile home park should review all existing rent-to-own contracts before closing, because those agreements carry over to the new owner by operation of law. Compliant successor owners honor the terms of inherited rent-to-own contracts as written and are prepared for the possibility that one or more residents may elect to terminate their contracts upon the ownership change. Maintaining clear records of all rent-to-own agreements and promptly notifying residents of the ownership transition are practices consistent with this provision.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Colo. Rev. Stat. § 38-12-1406 gives residents with valid rent-to-own contracts meaningful protections when their park is sold: the new owner must continue honoring the contract's terms, and the resident may choose to terminate the contract for any reason upon the change in ownership. Residents who wish to understand how this right applies to their situation may benefit from contacting a tenant-rights organization or a Colorado legal aid office familiar with mobile home park law. Keeping a copy of the rent-to-own contract and any written notices about the ownership change can be important when asserting rights under this provision.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated October 16, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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