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Colorado Real Estate Amendment, Initiative 4 (1980)

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The Colorado Real Estate Amendment, also known as Amendment 4, was on the November 4, 1980 ballot in Colorado as an initiated constitutional amendment, where it was defeated. The measure would have allowed for the sale of real estate while preventing lenders from accelerating the debt on the real estate or from altering the terms and conditions of the indebtedness or security interest. These limits would have only applied as long as the original debtor remained directly responsible for the debt and the security for the indebtedness was not substantially impaired by the sale.[1]

Election results

Colorado Initiative 4 (1980)
Defeatedd No745,62566.13%
Yes 381,821 33.87%

Election Results from: Colorado State Legislative Council, Ballot History

Text of measure

The language on the ballot appeared as:[1]

Shall Article XVIII of the Constitution of the State of Colorado, be amended to provide that in order that all persons shall have the right to sell or transfer their real estate or any interest therein subject to existing financing, no person or lending institution with a security interest in the real estate shall accelerate or mature the indebtedness secured by such real estate or alter the terms and conditions of the indebtedness or security interest because of such sale or transfer, so long as the original debtor remains directly responsible for the indebtedness and the security for the indebtedness is not substantially impaired by the sale or transfer?[2]

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  1. 1.0 1.1 Colorado State Legislative Council, "Ballot History," accessed February 18, 2014
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.