C.R.S. § 38-39-100.5 Definitions
38-39-100.5. Definitions. The definitions in section 38-38-100.3 apply to this article unless the context otherwise requires.
Mortgages, Deeds of Trust, and Other Liens
C.R.S. tit. 38, art. 39
in effectC.R.S. § 38-39-101 Effect of deed of trust to private trustee - nature of obligation secured
38-39-101. Effect of deed of trust to private trustee - nature of obligation secured. Any deed of trust that names any person other than a public trustee as trustee therein or that secures an obligation other than an evidence of debt shall be deemed and taken to be a mortgage for all purposes and foreclosed only as mortgages are foreclosed in and through the courts; except that any deed of trust that names a public trustee as trustee therein and secures an obligation other than an instrument evidencing a debt shall be released as provided in section 38-39-102 (5).
C.R.S. § 38-39-102 When deed of trust shall be released - definitions
38-39-102. When deed of trust shall be released - definitions. (1) (a) Except as otherwise provided in subsection (3)(a) of this section, upon compliance with the provisions of the deed of trust, a public trustee shall release a deed of trust upon the:
(I) Receipt of a written request from the holder of the evidence of debt secured by the deed of trust, the holder's agent or attorney, or a title insurance company providing an indemnification agreement and affidavit described in paragraph (c) of subsection (3) of this section, which request shall be duly executed and acknowledged;
(II) Production of the original canceled evidence of debt such as a note or bond as evidence that the indebtedness secured by such deed of trust has been paid; except that such production may be omitted in the circumstances contemplated in subsection (3) of this section;
(III) Receipt by the public trustee of the fee prescribed by section 38-37-104 (1)(a) and the fee for recording the release;
(IV) Receipt by the public trustee of a current address for the original grantor, assuming party, or current owner or either a notation on the request for release of the deed of trust or a written statement from the holder of the evidence of debt secured by the deed of trust, the title insurance company licensed in Colorado, or the holder of the original evidence of debt that the holder has no record of a current address that is different from the address of the property encumbered by the deed of trust being released; except that the public trustee may release a deed of trust upon compliance with the provisions of the deed of trust if the public trustee has not received the information required pursuant to this subsection (1)(a)(IV); and
(V) Production of a legible copy of the original recorded deed of trust securing the evidence of debt.
(b) Immediately upon execution of the release of the deed of trust by the public trustee, the public trustee shall cause the release to be recorded in the records of the county clerk and recorder.
(2) If the purpose of the deed of trust has been fully or partially satisfied and the indebtedness secured by the deed of trust has not been paid, the public trustee shall release the deed of trust as to all or portions of the property encumbered by the deed of trust pursuant to the provisions of subsection (1) of this section if the request to release certifies that the purpose of the deed of trust has been fully or partially satisfied and the evidence of debt is exhibited by the holder of the evidence of debt.
(3) (a) (I) Subject to the provisions of subparagraph (II) of this paragraph (a), with respect to either subsection (1) or (2) of this section, a holder of the original evidence of debt that is a qualified holder, as defined in section 38-38-100.3 (20), may request the release of a deed of trust without producing or exhibiting the original evidence of debt. A holder that requests the release of a deed of trust pursuant to this paragraph (a) shall be deemed to have agreed to indemnify and defend the public trustee against any claim made within the period described in subsection (7) of this section for damages resulting from the action of the public trustee taken in accordance with the request. The indemnity granted by this paragraph (a) is limited to actual economic loss suffered and any court costs and reasonable attorney fees and costs incurred in defending a claim brought as a direct and proximate result of the failure to produce the original evidence of debt, but the indemnity does not include and no claimant is entitled to any special, incidental, consequential, reliance, expectation, or punitive damages. No separate indemnification agreement shall be necessary for the agreement to indemnify to be effective.
ey fees and costs incurred in defending a claim brought as a direct and proximate result of the failure to produce the original evidence of debt, but the indemnity does not include and no claimant is entitled to any special, incidental, consequential, reliance, expectation, or punitive damages. No separate indemnification agreement shall be necessary for the agreement to indemnify to be effective.
(II) A holder of the original evidence of debt that is a qualified holder, as defined in section 38-38-100.3 (20), shall provide the public trustee with a current address for the original grantor, assuming party, or current owner when requesting a release of a deed of trust pursuant to this paragraph (a).
(b) (I) Subject to the provisions of subparagraph (II) of this paragraph (b), with respect to either subsection (1) or (2) of this section, the holder of the evidence of debt may request the release of a deed of trust without producing or exhibiting the original evidence of debt. A holder that requests the release of a deed of trust pursuant to this paragraph (b) shall deliver to the public trustee a corporate surety bond in an amount equal to one and one-half times the original principal amount recited in the deed of trust, which corporate surety bond shall remain in full force and effect for the period described in subsection (7) of this section.
(II) A holder of the evidence of debt shall provide the public trustee with a current address for the original grantor, assuming party, or current owner when requesting a release of a deed of trust pursuant to this paragraph (b).
(c) (I) Subject to the provisions of subsection (3)(c)(II) of this section, with respect to either subsection (1) or (2) of this section, a title insurance company licensed in Colorado may request the release of a deed of trust without producing or exhibiting the original evidence of debt. A company that requests the release of a deed of trust pursuant to this subsection (3)(c) is deemed to have agreed to indemnify and defend the public trustee against any claim made within the period described in subsection (7) of this section for damages resulting from the action taken by the public trustee in accordance with the request. The indemnity granted by this subsection (3)(c) is limited to actual economic loss suffered and any court costs and reasonable attorney fees and costs incurred in defending a claim brought as a direct and proximate result of the failure to produce the original evidence of debt, but the indemnity does not include and no claimant is entitled to any special, incidental, consequential, reliance, expectation, or punitive damages. No separate indemnification agreement is necessary for the agreement to indemnify to be effective; however, the company shall provide to the public trustee an affidavit executed by an officer of the company stating that the company has caused the indebtedness secured by the deed of trust to be satisfied in full or, in the case of a partial release, to the extent required by the holder of the indebtedness.
(II) A title insurance company licensed in Colorado shall provide the public trustee with a current address for the original grantor, assuming party, or current owner when requesting a release of a deed of trust pursuant to this subsection (3)(c).
ss secured by the deed of trust to be satisfied in full or, in the case of a partial release, to the extent required by the holder of the indebtedness.
(II) A title insurance company licensed in Colorado shall provide the public trustee with a current address for the original grantor, assuming party, or current owner when requesting a release of a deed of trust pursuant to this subsection (3)(c).
(d) (I) Subject to the requirement described in subsection (3)(d)(II) of this section, with respect to subsection (1) or (2) of this section, a holder of the original evidence of debt may request the release of a deed of trust without producing or exhibiting the original evidence of debt. A holder that requests the release of a deed of trust pursuant to this subsection (3)(d) is deemed to have agreed to indemnify and defend the public trustee against any claim made within the period described in subsection (7) of this section for damages resulting from the action of the public trustee taken in accordance with the request. The indemnity granted by this subsection (3)(d) is limited to actual economic loss suffered and any court costs and reasonable attorney fees and costs incurred in defending a claim brought as a direct and proximate result of the failure to produce the original evidence of debt, but the indemnity does not include, and no claimant is entitled to, any special, incidental, consequential, reliance, expectation, or punitive damages. No separate indemnification agreement is necessary for the agreement to indemnify to be effective.
(II) A holder of the evidence of debt shall provide the public trustee a current address for the original grantor, assuming party, or current owner when requesting a release of a deed of trust pursuant to this subsection (3)(d).
(III) A holder of the evidence of debt that elects to request a release of a deed of trust pursuant to this subsection (3)(d) must electronically file the request for release of deed of trust via the county's electronic recording system.
(3.5) Venue for any action based upon the indemnification agreement specified in paragraph (a) of subsection (3) of this section shall be proper only in the county in which the public trustee receiving the certification is located.
(4) A public trustee shall have no duty to retain the original canceled evidence of debt or deed of trust upon a release granted pursuant to this section.
(5) The lien represented by a deed of trust to the public trustee that secures an obligation other than an evidence of debt shall be released by the public trustee pursuant to the provisions of subsection (1) of this section as to all or portions of the property encumbered by the deed of trust upon the:
(a) Receipt of a written request of the beneficiary or assignee of such deed of trust, which request shall be duly executed and acknowledged;
(b) Presentation to the public trustee of an affidavit of such beneficiary or assignee stating that the purpose of the deed of trust has been fully or partially satisfied; and
as to all or portions of the property encumbered by the deed of trust upon the:
(a) Receipt of a written request of the beneficiary or assignee of such deed of trust, which request shall be duly executed and acknowledged;
(b) Presentation to the public trustee of an affidavit of such beneficiary or assignee stating that the purpose of the deed of trust has been fully or partially satisfied; and
(c) Receipt by the public trustee of the fee prescribed by section 38-37-104 (1)(a) and the fee for recording the release.
(6) The public trustee shall have no liability to any person, and no action may be commenced against the public trustee, as a result of issuing a release or partial release of a deed of trust under subsection (3) of this section, unless such action is commenced within six years from the date of the recording of such release or partial release or within the period of time prescribed by any statute of limitation of this state in which a suit to enforce payment of the indebtedness or performance of the obligation secured by said deed of trust may be commenced, whichever is less. Nothing in this article shall be construed to waive immunity of a public trustee that is provided in sections 24-10-101 to 24-10-120, C.R.S.
(7) The indemnification agreements or the corporate surety bond described in this section shall, in each case, remain effective for the time period described in subsection (6) of this section or until such time as any claim made against the public trustee within such time period has been finally resolved, whichever is longer.
(8) If the written request to release the lien of any deed of trust is a fraudulent request, the release by the public trustee based upon such request shall be void.
(8.5) If a deed of trust is improperly recorded in the office of the clerk and recorder of a county other than the county in which the real property is located, the deed of trust must be recorded in the correct county before the public trustee may release the deed of trust. The public trustee of a county other than the county wherein the real property is located shall not release the deed of trust.
(9) As used in this section, unless the context otherwise requires:
(a) "Assuming party" means a person other than the original grantor who paid off the indebtedness on behalf of the original grantor.
(b) "Current address" means the most recent address reflected in the records of a holder of the evidence of debt, a title insurance company licensed in Colorado, or a holder of the original evidence of debt that is a qualified holder, as defined in section 38-38-100.3 (20). If a holder of the evidence of debt, a title insurance company licensed in Colorado, or a holder of the original evidence of debt that is a qualified holder, as defined in section 38-38-100.3 (20), has no record of a current address, any requirement that a current address be provided shall be deemed satisfied by indicating that fact.
(c) "Current owner" means a person other than the original grantor who currently owns the property and has either paid off or taken over the indebtedness on behalf of the original grantor.
C.R.S. § 38-39-103 Effect of release or partial release before maturity of evidence of debt - release is good as to recitals
38-39-103. Effect of release or partial release before maturity of evidence of debt - release is good as to recitals. (1) In any executed and recorded release or partial release of any deed of trust affecting the title to real estate in this state, whether or not such release is executed before the maturity of the indebtedness so secured, the recital of the following shall constitute evidence thereof, so as to give full effect to such release:
(a) That the indebtedness secured by such deed of trust has been fully or partially paid; or
(b) That the purpose of the deed of trust has been fully or partially satisfied.
(2) Any release of deed of trust shall be good and valid as to the recitals therein, whether made to the original grantor of said deed of trust or to a subsequent purchaser of the property described in such release of deed of trust.
C.R.S. § 38-39-104 Satisfaction of mortgage
38-39-104. Satisfaction of mortgage. The lien of any mortgage encumbering property within the state of Colorado can be released only by the mortgagee executing a separate instrument of release executed under the formalities prescribed by the law regulating conveyances. All releases made prior to July 1, 1973, either on the mortgage or on the record of the mortgage, and signed by the mortgagee, shall have the same effect as a separate instrument of release legally executed by the mortgagee.
C.R.S. § 38-39-105 Removal of improvements from encumbered property
38-39-105. Removal of improvements from encumbered property. (1) An owner of real property shall not remove any improvement therefrom without first obtaining the written consent of the holder of any lien recorded prior to October 1, 1990, and the holder of the indebtedness secured by the deed of trust or mortgage having the most senior lien which encumbers such real property. This section shall not apply where any such improvement is expressly excepted from such lien.
(2) Any person who violates the provisions of subsection (1) of this section commits:
(a) A petty offense if the amount is less than three hundred dollars;
(b) A class 2 misdemeanor if the amount is three hundred dollars or more but less than one thousand dollars;
(c) A class 1 misdemeanor if the amount is one thousand dollars or more but less than two thousand dollars;
(d) A class 6 felony if the amount is more than two thousand dollars but less than five thousand dollars;
(e) A class 5 felony if the amount is five thousand dollars or more but less than twenty thousand dollars;
(f) A class 4 felony if the amount is twenty thousand dollars or more but less than one hundred thousand dollars;
(g) A class 3 felony if the amount is one hundred thousand dollars or more but less than one million dollars; and
(h) A class 2 felony if the amount is one million dollars or more.
C.R.S. § 38-39-106 Future advances
38-39-106. Future advances. (1) Any mortgage may, by its terms, secure future advances up to a total maximum principal amount expressly set forth in such mortgage. Such mortgage shall be effective to secure payment of all advances, both obligatory and optional, up to the stated maximum principal amount to the same extent and with the same effect and priority as if such total maximum principal amount had been fully disbursed on or before the date such mortgage was recorded.
(2) Such mortgage shall also secure, to the same extent and with the same effect and priority, the following additional amounts regardless of whether such additional amounts, when added to the principal amount of the indebtedness, exceed the maximum principal amount stated in the mortgage:
(a) All increases in the principal amount that result from negative amortization or the addition of deferred interest;
(b) All disbursements made for the payment of taxes, levies, or insurance with respect to the property subject to the mortgage or made to protect such property from waste, damage, or abuse;
(c) If the mortgage or evidence of debt secured by the mortgage so provides, all reasonable expenses associated with collection of the indebtedness or foreclosure of the mortgage; and
(d) Interest on any of the items specified in paragraphs (a) to (c) of this subsection (2) in accordance with the terms of the mortgage or the evidence of debt secured by the mortgage.
(3) Subsection (1) of this section shall not apply to any subsequent advance against a mortgage instrument after a mortgagee has initially advanced principal up to the maximum amount stated in the mortgage, unless the mortgage instrument clearly states that it was made pursuant to a revolving credit arrangement.
(4) This section shall have no application to the priority of general mechanics' liens arising pursuant to article 22 of this title, and the priority of such general mechanics' liens with respect to a mortgage which secures future advances shall be determined without reference to this section.
(5) As used in this section, unless the context otherwise requires, "mortgage" means a mortgage, deed of trust, or other instrument creating a lien on real property to secure the payment of an indebtedness.
C.R.S. § 38-39-107 Form of written request for release of a deed of trust with production of the evidence of debt
38-39-107. Form of written request for release of a deed of trust with production of the evidence of debt. A written request to a public trustee made pursuant to section 38-39-102 (1)(a) to release a deed of trust with production of the original canceled evidence of debt may be in substantially the following form:
Original Note and Deed of Trust Returned to:
When recorded return to:
Prepared/Received by:
REQUEST FOR FULL [ ] / PARTIAL [ ]
RELEASE OF DEED OF TRUST AND RELEASE
BY HOLDER OF THE EVIDENCE OF DEBT WITH
PRODUCTION OF EVIDENCE OF DEBT PURSUANT
TO § 38-39-102 (1)(a), COLORADO REVISED STATUTES
___________________________ Date
___________________________ Original Grantor (Borrower)
___________________________
___________________________ Current Address of Original Grantor,
___________________________ Assuming Party, or Current Owner
[ ] Check here if current address is unknown.
___________________________ Original Beneficiary (Lender)
___________________________
___________________________ Date of Deed of Trust
___________________________ Date of Recording and/or Re-Recording of Deed of Trust
___________________________ Recording Information
County Rcpt. No. and/or Film No. and/or Book/Page No. and/or Torrens Reg. No.
TO THE PUBLIC TRUSTEE OF COUNTY
(The County of the Public Trustee who is the appropriate grantee to whom the above Deed of Trust should grant an interest in the property described in the Deed of Trust)
PLEASE EXECUTE AND RECORD A RELEASE OF THE DEED OF TRUST DESCRIBED ABOVE. The indebtedness secured by the Deed of Trust has been fully or partially paid and/or the purpose of the Deed of Trust has been fully or partially satisfied in regard to the property encumbered by the Deed of Trust as described therein as to a full release or, in the event of a partial release, only that portion of the real property described as:
_________________________________________________________
(IF NO LEGAL DESCRIPTION IS LISTED THIS WILL BE DEEMED A FULL RELEASE.)
Name and address of current holder of the evidence of debt secured by deed of trust (lender)
_________________________________________________________
Name, title, and address of officer, agent, or attorney of current holder
___________________________________________________________
Signature Signature
State of , County of
The foregoing Request for Release was acknowledged before me on
(Date) by* (Notary Seal)
_______________________________Date Commission Expires
*If applicable, insert title of officer and name of current holder
____________________________________
Notary Public Witness my hand and official seal
RELEASE OF DEED OF TRUST
WHEREAS, the Grantor(s) named above, by Deed of Trust, granted certain real property described in the Deed of Trust to the Public Trustee of the County referenced above, in the State of Colorado, to be held in trust to secure the payment of the indebtedness referred to therein; and
WHEREAS, the indebtedness secured by the Deed of Trust has been fully or partially paid and/or the purpose of the Deed of Trust has been fully or partially satisfied according to the written request of the current holder of the evidence of debt;
NOW THEREFORE, in consideration of the premises and the payment of the statutory sum, receipt of which is hereby acknowledged, I, as the Public Trustee in the County named above, do hereby fully and absolutely release, cancel, and forever discharge the Deed of Trust or that portion of the real property described above in the Deed of Trust, together with all privileges and appurtenances thereto belonging.
___________________________________
Public Trustee
____________________________________
Deputy Public Trustee
(Public Trustee use only; use appropriate label)
(Public Trustee's seal)
(If applicable: Notary Seal)
___________________________________________________________
he real property described above in the Deed of Trust, together with all privileges and appurtenances thereto belonging.
___________________________________
Public Trustee
____________________________________
Deputy Public Trustee
(Public Trustee use only; use appropriate label)
(Public Trustee's seal)
(If applicable: Notary Seal)
___________________________________________________________
(If applicable, name and address of person creating new legal description as required by § 38-35-106.5, Colorado Revised Statutes.)
C.R.S. § 38-39-108 Form of written request for release of a deed of trust without production of the evidence of debt
38-39-108. Form of written request for release of a deed of trust without production of the evidence of debt. A written request to a public trustee made pursuant to section 38-39-102 (1)(a) and (3) to release a deed of trust without production of the original canceled evidence of debt may be in substantially the following form:
Original Note and Deed of Trust Returned to:
When recorded return to:
Prepared/Received by:
REQUEST FOR FULL [ ] / PARTIAL [ ]
RELEASE OF DEED OF TRUST AND RELEASE BY
HOLDER OF THE EVIDENCE OF DEBT WITHOUT
PRODUCTION OF EVIDENCE OF DEBT PURSUANT TO
§38-39-102 (1)(a) and (3), COLORADO REVISED STATUTES
___________________________ Date
___________________________ Original Grantor (Borrower)
___________________________
___________________________ Current Address of Original Grantor,
___________________________ Assuming Party, or Current Owner
[ ] Check here if current address is unknown.
___________________________ Original Beneficiary (Lender)
___________________________
___________________________ Date of Deed of Trust
___________________________ Date of Recording and/or
Re-Recording of Deed of Trust
___________________________ Recording Information
County Rcpt. No. and/or Film No. and/or Book/Page No. and/or Torrens Reg. No.
TO THE PUBLIC TRUSTEE OF __________________ COUNTY
(The County of the Public Trustee who is the appropriate grantee to whom the above Deed of Trust should grant an interest in the property described in the Deed of Trust)
PLEASE EXECUTE AND RECORD A RELEASE OF THE DEED OF TRUST DESCRIBED ABOVE. The indebtedness secured by the Deed of Trust has been fully or partially paid and/or the purpose of the Deed of Trust has been fully or partially satisfied in regard to the property encumbered by the Deed of Trust as described in the Deed of Trust as to a full release or, in the event of a partial release, only that portion of the real property described as:
_________________________________________________________
(IF NO LEGAL DESCRIPTION IS LISTED THIS WILL BE DEEMED A FULL RELEASE.)
Pursuant to § 38-39-102 (3), Colorado Revised Statutes, in support of this Request for Release of Deed of Trust, the undersigned, as the holder of the evidence of debt secured by the Deed of Trust described above, or as a title insurance company authorized to request the release of a Deed of Trust pursuant to § 38-39-102 (3)(c), Colorado Revised Statutes, in lieu of the production or exhibition of the original evidence of debt with this Request for Release, certifies as follows:
1. The purpose of the Deed of Trust has been fully or partially satisfied.
2. The original evidence of debt is not being exhibited or produced with this request for release of Deed of Trust.
3. It is one of the following entities (check applicable box):
a. [ ] The holder of the original evidence of debt that is a qualified holder, as specified in § 38-39-102 (3)(a), Colorado Revised Statutes, that agrees that it is obligated to indemnify the Public Trustee for any and all damages, costs, liabilities, and reasonable attorney fees incurred as a result of the action of the Public Trustee taken in accordance with this Request for Release;
b. [ ] The holder of the evidence of debt requesting the release of a Deed of Trust without producing or exhibiting the original evidence of debt that delivers to the Public Trustee a corporate surety bond as specified in § 38-39-102 (3)(b), Colorado Revised Statutes;
c. [ ] A title insurance company licensed in Colorado, as specified in § 38-39-102 (3)(c), Colorado Revised Statutes, that agrees that it is obligated to indemnify the Public Trustee pursuant to statute as a result of the action of the Public Trustee taken in accordance with this Request for Release and that has caused the indebtedness secured by the Deed of Trust to be satisfied in full, or in the case of a partial release, to the extent required by the holder of the indebtedness; or
, Colorado Revised Statutes, that agrees that it is obligated to indemnify the Public Trustee pursuant to statute as a result of the action of the Public Trustee taken in accordance with this Request for Release and that has caused the indebtedness secured by the Deed of Trust to be satisfied in full, or in the case of a partial release, to the extent required by the holder of the indebtedness; or
d. [ ] A holder, as specified in § 38-39-102 (3)(d)(I), Colorado Revised Statutes, that agrees that it is obligated to indemnify the Public Trustee pursuant to statute as a result of the action of the Public Trustee taken in accordance with this Request for Release and that has caused the indebtedness secured by the Deed of Trust to be satisfied in full, or in the case of a partial release, to the extent required by the holder of the indebtedness.
_________________________________________________________
Name and address of the holder of the evidence of debt secured by the Deed of Trust (lender) or name and address of the title insurance company authorized to request the release of a Deed of Trust.
_________________________________________________________
Name, title, and address of officer, agent, or attorney of the holder of the evidence of debt secured by the Deed of Trust (lender).
___________________________________________________________
Signature __________________Signature ___________________
State of __________________, County of _________________
The foregoing Request for Release was acknowledged before me
on _________(Date) by* ____________ (Notary Seal)
_______________________________ Date Commission Expires
*If applicable, insert title of officer and name of current holder
____________________________________
Notary Public Witness my hand and official seal
RELEASE OF DEED OF TRUST
WHEREAS, the Grantor(s) named above, by Deed of Trust, granted certain real property described in the Deed of Trust to the Public Trustee of the County referenced above, in the State of Colorado, to be held in trust to secure the payment of the indebtedness referred to in the Deed of Trust; and
WHEREAS, the indebtedness secured by the Deed of Trust has been fully or partially paid and/or the purpose of the Deed of Trust has been fully or partially satisfied according to the written request of the holder of the evidence of debt or title insurance company authorized to request the release of the Deed of Trust;
NOW THEREFORE, in consideration of the premises and the payment of the statutory sum, receipt of which is hereby acknowledged, I, as the Public Trustee in the County named above, do hereby fully and absolutely release, cancel, and forever discharge the Deed of Trust or that portion of the real property described above in the Deed of Trust, together with all privileges and appurtenances belonging to the real property.
____________________________________
Public Trustee
____________________________________
Deputy Public Trustee
(Public Trustee use only; use appropriate label)
(Public Trustee's seal)
(If applicable: Notary Seal)
___________________________________________________________
(If applicable, name and address of person creating new legal description as required by § 38-35-106.5, Colorado Revised Statutes.)
C.R.S. § 38-39-109 When release of deed of trust is recorded
38-39-109. When release of deed of trust is recorded. (1) (a) Except as provided in paragraph (b) of this subsection (1), when a release of a deed of trust is presented to the county clerk and recorder for recording, the county clerk and recorder shall return the original release of a deed of trust to the original grantor, assuming party, or current owner using the current address for the original grantor, assuming party, or current owner provided to the public trustee pursuant to section 38-39-102 (1)(a)(IV), (3)(a)(II), (3)(b)(II), or (3)(c)(II).
(b) The county clerk and recorder shall not be required to return the original release of a deed of trust as specified in paragraph (a) of this subsection (1) if the public trustee, in his or her discretion, has released the deed of trust as specified in section 38-39-102 (1)(a)(IV), if a current address is not provided as specified in section 38-39-102 (9)(b), or if the release of deed of trust is electronically recorded.
(2) If the original release is returned to the county clerk and recorder as undeliverable or unable to forward, the county clerk and recorder shall maintain the original release pursuant to the policy of the office of the clerk and recorder.
(3) Any original grantor, assuming party, or current owner seeking a copy of a release of a deed of trust after recording shall be subject to appropriate copy fees pursuant to section 30-1-103, C.R.S.
C.R.S. § 38-39-201 Liens not to run over fifteen years
38-39-201. Liens not to run over fifteen years. (1) Except as provided in sections 38-39-202 and 38-39-204, any lien upon property created by a mortgage or deed of trust shall cease to be a lien fifteen years after the date on which the final payment or performance of the obligation secured thereby is due as shown by such mortgage or deed of trust recorded in the office of the county clerk and recorder of the county wherein the property is located.
(2) If the date on which the final payment or performance is due cannot be determined from the information contained in the recorded mortgage or deed of trust, such date shall, for the purpose of this article, be considered to be the date of the recorded instrument or, if the instrument is undated, the date the instrument was first recorded, notwithstanding anything in any other instrument or any unrecorded instrument to the contrary.
C.R.S. § 38-39-202 Lien extended - method
38-39-202. Lien extended - method. (1) The lien of a recorded mortgage or deed of trust may be extended without the written agreement of the owner of the property encumbered by such lien by an instrument in writing, signed by the owner of the obligation secured by such lien or by the person, firm, or corporation designated in such mortgage or deed of trust as the trustee for the owner of the obligation, such as a note or bond secured by such lien or by the successor in office of such named trustee. Such instrument shall clearly describe the mortgage or deed of trust, shall state the date to which the lien has been extended, and shall be recorded before the expiration of the fifteen-year period described in section 38-39-201 (1) in the office of the county clerk and recorder of the county wherein the property is located. The date to which such lien is extended by such instrument shall in no event be later than fifteen years after the recording date of such instrument.
(2) Additional and further extensions may be recorded from time to time in accordance with the provisions of this section in order to extend the lien of such mortgage or deed of trust. The original extension and all additional and further extensions shall, in no event, extend the lien of the original mortgage or trust deed beyond a total of thirty years without the written agreement of the owner of the property encumbered by such lien. Each successive extension must be recorded during the time that such mortgage or deed of trust constitutes a lien under the terms of this article and before the expiration of the respective period for which the lien of such mortgage or deed of trust may have been extended in accordance with the terms of this article.
(3) The lien of a recorded mortgage or deed of trust may be extended for so long as agreed, by an instrument in writing, signed by the owner of the obligation secured by such lien and the owner of the property encumbered by such lien and recorded in the office of the county clerk and recorder of the county in which such property is located.
(4) The term "thirty years", as used in this section, means thirty years after the original maturity date of such mortgage or deed of trust.
C.R.S. § 38-39-203 No release necessary
38-39-203. No release necessary. No release or other instrument shall be necessary to discharge the lien of any recorded mortgage or deed of trust which has expired or ceased to be a lien as provided in sections 38-39-201 and 38-39-202, but nothing in this section shall be construed as affecting or preventing the execution of a release at any time.
C.R.S. § 38-39-204 Effect of notice of action on lien
38-39-204. Effect of notice of action on lien. If, prior to the expiration of the period as defined in sections 38-39-201 and 38-39-202 during which any recorded mortgage or deed of trust constitutes a lien, there shall be filed in the office of the county clerk and recorder of the proper county a notice of an action pending to foreclose such lien or a notice of election and demand for sale, the lien created by such instrument shall continue until final disposition of the action or foreclosure proceeding.
C.R.S. § 38-39-205 Action to be brought within fifteen years
38-39-205. Action to be brought within fifteen years. No action shall be commenced to foreclose the lien of any mortgage or deed of trust, unless such action is commenced prior to the date on which such mortgage or deed of trust ceases to be a lien pursuant to sections 38-39-201 and 38-39-202.
C.R.S. § 38-39-206 Does not extend any lien
38-39-206. Does not extend any lien. This article shall not be construed as extending any lien or the right to bring or maintain any action for which a shorter period may be provided by law.
C.R.S. § 38-39-207 Lien extinguished when action barred
38-39-207. Lien extinguished when action barred. The lien created by any instrument shall be extinguished, regardless of any other provision in this article to the contrary, at the same time that the right to commence a suit to enforce payment of the indebtedness or performance of the obligation secured by the lien is barred by any statute of limitation of this state.
C.R.S. § 38-39-208 Action within seven years when in possession
38-39-208. Action within seven years when in possession. No action shall be commenced for any reason whatsoever to question or to set aside any foreclosure of any deed of trust, mortgage, or other lien, unless such action is commenced within seven years after the date of the vesting of title pursuant to such foreclosure.
C.R.S. § 38-39-209 Mortgages to United States
38-39-209. Mortgages to United States. (1) Any mortgage, deed of trust, or other instrument executed by a corporation organized under the provisions of articles 40, 55, and 56 of title 7, C.R.S., and given to secure any indebtedness to the United States, or any agency or instrumentality thereof, which affects real or personal property, or both, and which is recorded in the real property records in any county in which such property is located or is to be located shall have the same force and effect as if such instrument were also recorded, filed, or indexed as provided by law in the proper office in such county as a mortgage of personal property. All after-acquired real or personal property of such corporation, described or referred to as being mortgaged or pledged in any such instrument, shall become subject to the lien thereof immediately upon the acquisition of such property by such corporation, whether or not such property was in existence at the time of the execution of such instrument.
(2) Recordation of any such instrument shall constitute notice and otherwise have the same effect with respect to such after-acquired property as it has under the laws relating to recordation with respect to property owned by such corporation at the time of the execution of such instrument and therein described or referred to as being mortgaged or pledged thereby. The lien upon personal property of any such instrument shall, after recordation thereof, continue in existence and of record until the performance of the obligation secured thereby or the release or satisfaction thereof by the owner thereof.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-38.docxFetched: 10/6/2026