C.R.S. Section 38-29-131
Release of mortgages

(1)

Upon the payment or discharge of the undertaking secured by any mortgage on a manufactured home that has been filed for record and noted on the certificate of title in the manner prescribed in section 38-29-128, the legal holder of the certificate of title, in a place to be provided therefor, shall make and execute such notation of the discharge of the obligation and release of the mortgage securing the same and set forth therein such facts concerning the right of the holder to so release said mortgage as the director may require by appropriate rule, which satisfaction and release shall be affirmed by a statement signed by the legal holder of the certificate of title and shall contain or be accompanied by a written declaration that it is made under the penalties of perjury in the second degree, as defined in section 18-8-503, C.R.S. Thereupon, except as otherwise provided in section 38-29-112 (1.7), the holder of the mortgage so released shall dispose of the certificate of title as follows:

(a)

If it appears from an examination of the certificate of title that the manufactured home therein described is subject to an outstanding junior mortgage or mortgages filed for record subsequent to August 1, 1949, the holder shall deliver the certificate of title to the person so shown to be the holder of the mortgage which was filed earliest in point of time after the filing of the mortgage released or to the person or agent of the person shown to be the assignee or other legal holder of the undertaking secured thereby or shall mail the same to such mortgagee or holder thereof at his address as the same thereon appears. If such certificate is returned unclaimed, it shall thereupon be mailed to the director.

(b)

If it appears from an examination of the certificate of title that there are no other outstanding mortgages against the manufactured home therein described, filed for record subsequent to August 1, 1949, upon the release of such mortgage as provided in this section, the holder thereof shall deliver the certificate of title to the owner of the home therein described or shall mail the same to him at his address as the same may therein appear. If for any reason said certificate of title is not delivered to the owner of the home therein described or is returned unclaimed upon the mailing thereof, it shall thereupon be mailed to the director.

Source: Section 38-29-131 — Release of mortgages, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-38.­pdf (accessed Oct. 20, 2023).

38‑29‑101
Short title 38‑29‑102
Definitions 38‑29‑103
Application 38‑29‑104
Administration 38‑29‑105
Authorized agents 38‑29‑106
Sale or transfer of manufactured home 38‑29‑107
Applications for certificates of title 38‑29‑108
Where application for certificates of title made - procedure 38‑29‑109
Director may refuse certificate, when 38‑29‑110
Certificates of title - contents 38‑29‑111
Disposition of certificates of title 38‑29‑112
Certificate of title - transfer 38‑29‑113
Lost certificates of title 38‑29‑114
New manufactured homes - bill of sale - certificate of title 38‑29‑115
Sale to dealers - certificate need not issue 38‑29‑116
Transfers by bequest, descent, law 38‑29‑117
Certificates for manufactured homes registered in other states 38‑29‑118
Surrender and cancellation of certificate - purge of certificate - penalty for violation 38‑29‑119
Furnishing bond for certificates 38‑29‑120
Where to apply for certificate of title 38‑29‑121
Altering or using altered certificate 38‑29‑122
Substitute manufactured home identification numbers - inspection 38‑29‑123
Assignment of a special manufactured home identification number by the department of revenue 38‑29‑124
Amended certificate to issue, when 38‑29‑125
Security interests upon manufactured homes 38‑29‑126
Existing mortgages not affected 38‑29‑127
Foreign mortgages 38‑29‑128
Filing of mortgage 38‑29‑129
Disposition of mortgages by agent 38‑29‑130
Disposition after mortgaging 38‑29‑131
Release of mortgages 38‑29‑132
New certificate upon release of mortgage 38‑29‑133
Duration of lien of mortgage - extensions 38‑29‑134
Priority of mortgages 38‑29‑135
Second or other junior mortgages 38‑29‑136
Validity of mortgage between parties 38‑29‑137
Mechanics’, warehouse, and other liens 38‑29‑138
Fees 38‑29‑139
Disposition of fees 38‑29‑140
Director’s records to be public 38‑29‑141
Penalties 38‑29‑141.5
False oath 38‑29‑142
Repossession of manufactured home - owner must notify law enforcement agency - penalty 38‑29‑143
Change of location - penalty 38‑29‑201
Verification of application form - supporting materials 38‑29‑202
Certificate of permanent location 38‑29‑203
Certificate of removal 38‑29‑204
Certificate of destruction 38‑29‑205
Authorized agent - forward to the clerk and recorder 38‑29‑206
Recorded documents - index 38‑29‑207
Copy of certificates to assessor 38‑29‑208
Affidavit of real property 38‑29‑209
Fees - disposition
Green check means up to date. Up to date

Current through Fall 2024

§ 38-29-131’s source at colorado​.gov