C.R.S. Section 38-41-206
Levy on homestead

  • excess
  • costs

(1)

Before any creditor of the owner of the homesteaded property may proceed against said property, such creditor shall file with the county clerk and recorder of the proper county and the sheriff or other proper officer authorized to levy on said property:

(a)

His affidavit showing:

(I)

A description of the homesteaded property and the name of the claimant of the homestead exemption;

(II)

The fair market value of said property;

(III)

That the fair market value of said property less any prior liens or encumbrances thereon exceeds the amount of the homestead exemption fixed in section 38-41-201 for which the claimant qualifies; and

(IV)

That no previous execution arising out of the same judgment has been levied upon said property;

(b)

The affidavit of a professionally qualified independent appraiser showing the same information required by subparagraphs (I) to (III) of paragraph (a) of this subsection (1).

(2)

If the amount offered at the sale of the homesteaded property does not exceed seventy percent of the fair market value shown in the affidavit of the independent appraiser filed pursuant to paragraph (b) of subsection (1) of this section, all proceedings to sell said property shall terminate. The sheriff or the proper officer shall then file for record in the office of the county clerk and recorder of the proper county an instrument releasing all levies on said property in connection with such sale, and the person instituting the proceedings shall pay the costs of such proceedings, and the title of the owner to said property shall not be impaired or affected.

(3)

If the successful bidder at such sale is a judgment creditor, he shall be required to pay in cash to the sheriff or other proper officer making the sale an amount sufficient to pay the exemption plus the proper costs and expenses and shall not have the right to have such exempt amount applied toward the satisfaction of his judgment.

(4)

If a sale is made, the proceeds thereof shall be applied in the following order:

(a)

First, to the discharge of all prior liens and encumbrances, if any, on said property;

(b)

Second, to the homestead claimant in the amount of the homestead exemption for which he qualifies;

(c)

Third, to the sheriff or other proper officer making the sale in an amount sufficient to pay the proper costs and expenses of the sale;

(d)

Fourth, to the satisfaction of the judgment; and

(e)

Fifth, the balance, if any, to the homestead claimant.

Source: Section 38-41-206 — Levy on homestead - excess - costs, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-38.­pdf (accessed Oct. 20, 2023).

38‑41‑101
Limitation of eighteen years 38‑41‑102
How computed 38‑41‑103
Evidence of adverse possession 38‑41‑104
Time to make an entry or bring an action to recover land 38‑41‑105
Abstract of title prima facie evidence 38‑41‑106
Limitation seven years - possession under official and judicial conveyance or orders 38‑41‑107
Rights of heirs 38‑41‑108
Rights in possession seven years - color of title and payment of taxes 38‑41‑109
When in possession under color of title - unoccupied lands 38‑41‑110
Payment of delinquent taxes by owner of less than whole property 38‑41‑111
When action will not lie against person in possession 38‑41‑112
Legal disability - extension of two years 38‑41‑113
Limitations may be asserted affirmatively or by way of defense 38‑41‑114
When limitations apply 38‑41‑115
Setting aside judgments against unknown parties 38‑41‑116
Actions to enforce contracts of sale 38‑41‑117
Actions to enforce bonds for deeds 38‑41‑118
Construction of sections 38‑41‑119
One-year limitation 38‑41‑201
Homestead exemption - definitions 38‑41‑201.5
Legislative declaration of homestead exemption for mobile homes 38‑41‑201.6
Mobile home, manufactured home, trailer, and trailer coach homestead exemption 38‑41‑201.7
Definition of “dwelling” - personal property included 38‑41‑202
Homestead to be created automatically in certain cases - filing of statement required in other cases 38‑41‑203
Exemption only while occupied 38‑41‑204
Surviving spouse and minor children entitled 38‑41‑205
Of what homestead may consist 38‑41‑206
Levy on homestead - excess - costs 38‑41‑207
Proceeds exempt - bona fide purchaser 38‑41‑208
Survival of exemption 38‑41‑209
Insurance proceeds 38‑41‑210
Definitions - vendor’s rights 38‑41‑211
Exemption in addition to allowances 38‑41‑212
Waiver
Green check means up to date. Up to date

Current through Fall 2024

§ 38-41-206’s source at colorado​.gov