C.R.S. Section 10-11-122
Title commitments

  • rules

(1)

Every title insurance agent or title insurance company shall provide, along with each commitment for an owner’s policy of title insurance pertaining to a sale of residential real property as defined in section 39-1-102 (14.5), C.R.S., a statement disclosing the following information:

(a)

That the subject real property may be located in a special taxing district;

(b)

That a certificate of taxes due listing each taxing jurisdiction will be obtained from the county treasurer of the county in which the subject real property is located or that county treasurer’s authorized agent unless the proposed insured provides written instructions to the contrary; and

(c)

That information regarding special districts and the boundaries of such districts may be obtained from the board of county commissioners, the county clerk and recorder, or the county assessor.

(2)

Failure of a title insurance agent or a title insurance company to provide the statement required by subsection (1) of this section shall subject such agent or company to the penalty provisions of section 10-3-111 but shall not affect or invalidate any provisions of the commitment for title insurance.

(3)

Intentionally left blank —Ed.

(a)

Before issuing any owner’s policy of title insurance pertaining to a sale of residential real property, unless the proposed insured provides written instructions to the contrary, a title insurance agent or title insurance company shall obtain a certificate of taxes due from the county treasurer or the county treasurer’s authorized agent.

(b)

To address circumstances in which a certificate of taxes cannot be obtained from the county treasurer or the county treasurer’s authorized agent during the period in which the county treasurer is certifying the tax rolls, the commissioner of insurance shall promulgate rules, in accordance with article 4 of title 24, C.R.S., that identify alternative documentation that may be used and relied upon during that period. If a title insurance agent or title insurance company uses alternative documentation during this period, the agent or company shall obtain a tax certificate when it becomes available from the county treasurer or the county treasurer’s authorized agent.

(4)

Intentionally left blank —Ed.

(a)

If a title insurance agent or title insurance company is required to provide the statement required by subsection (1) of this section, the agent or company shall also provide a statement substantially as follows:
COLORADO NOTARIES MAY REMOTELY NOTARIZE REAL ESTATE DEEDS AND OTHER DOCUMENTS USING REAL-TIME AUDIO-VIDEO COMMUNICATION TECHNOLOGY. YOU MAY CHOOSE NOT TO USE REMOTE NOTARIZATION FOR ANY DOCUMENT.

(b)

Failure of a person to provide the statement required by this subsection (4) does not subject the person to any liability under this article 11 or to the penalty provisions of section 10-3-111 and does not affect or invalidate any provisions of the commitment for title insurance.

Source: Section 10-11-122 — Title commitments - rules, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-10.­pdf (accessed Oct. 20, 2023).

10‑11‑101
Short title
10‑11‑102
Definitions
10‑11‑103
Compliance with article required
10‑11‑104
Corporate form required
10‑11‑105
Financial requirements prior to this article
10‑11‑106
Determination of insurability required
10‑11‑107
Powers
10‑11‑108
Prohibitions
10‑11‑109
Unearned premium reserve
10‑11‑110
Amount of unearned premium reserve - release
10‑11‑111
Reserve for unpaid losses and loss expense
10‑11‑112
Net retained liability
10‑11‑113
Power to reinsure
10‑11‑114
Legal investments and admitted assets
10‑11‑115
Prior investments
10‑11‑116
Title insurance agents licensed
10‑11‑117
Title insurance agents - certain names prohibited
10‑11‑118
Title insurance - rules
10‑11‑119
Laws applicable
10‑11‑120
Corporate existence preserved
10‑11‑121
Application of article - other laws applicable
10‑11‑122
Title commitments - rules
10‑11‑123
Notification of severed mineral estates
10‑11‑124
Affiliated business arrangements - rules - investigative information shared with division of real estate
10‑11‑125
Fees, salaries, compensation, or other payments
10‑11‑126
Affiliated business arrangements - enforcement - penalties
10‑11‑127
Fiduciary responsibilities of title insurance entities - definition of fiduciary funds - deceptive act or practice - rules
10‑11‑201
Title insurance commission - creation - advisory body - appointment of members - meetings
10‑11‑202
Powers, duties, and functions - recommendations on rules
10‑11‑203
Repeal of part
Green check means up to date. Up to date

Current through Fall 2024

§ 10-11-122’s source at colorado​.gov