(1) All provisions of the declaration and bylaws are severable.
(2) The rule against perpetuities does not apply to defeat any provision of the declaration, bylaws, or rules and regulations.
(3) In the event of a conflict between the provisions of the declaration and the bylaws, the declaration prevails, except to the extent the declaration is inconsistent with this article.
(4) Title to a unit and common elements is not rendered unmarketable or otherwise affected by reason of an insubstantial failure of the declaration to comply with this article. Whether a substantial failure impairs marketability is not affected by this article.
Source: L. 91: Entire article added, p. 1716, § 1, effective July 1, 1992.
ANNOTATION
Subsection (3) provides that the Colorado Common Interest Ownership Act prevails over any inconsistent provision in a declaration. Heritage Vill. Owners Ass'n v. Golden Heritage Investors, Ltd., 89 P.3d 513 (Colo. App. 2004).
Development rights in a declaration that does not include a time limitation are void ab initio. Section 38-33.3-205 (1)(h) is unambiguous in requiring a time limitation, and failure to include such a limitation is not an insubstantial defect that may be overlooked under subsection (4) of this section. Silverview at Overlook, LLC v. Overlook at Mt. Crested Butte Ltd. Liab. Co., 97 P.3d 252 (Colo. App. 2004).