C.R.S. Section 42-6-120
Security interests upon vehicles

(1)

Except as provided in this section and sections 42-6-130 and 42-6-148, the provisions of the “Uniform Commercial Code”, title 4, C.R.S., relating to the filing, recording, releasing, renewal, priority, and extension of chattel mortgages, as defined in section 42-6-102 (9), do not apply to motor or off-highway vehicles. A mortgage or refinancing of a mortgage intended by the parties to the mortgage or refinancing to encumber or create a lien on a motor vehicle, or to be perfected as a valid lien against the rights of third persons, purchasers for value without notice, mortgagees, or creditors of the owner, must be filed for public record. The department or authorized agent shall note the fact of filing on the owner’s certificate of title or bill of sale substantially in the manner provided in section 42-6-121.

(2)

This section and section 42-6-121 do not apply to a mortgage or security interest upon a vehicle or motor vehicle held for sale or lease that constitutes inventory as defined in section 4-9-102, C.R.S. The perfection of mortgages or security interests, and the rights of the parties, are governed by article 9 of title 4, C.R.S.

(3)

Notwithstanding any provision of law to the contrary, in the case of motor vehicles, off-highway vehicles, or trailers, a lease transaction does not create a sale or security interest solely because it permits or requires the rental price to be adjusted either upward or downward under the agreement by reference to the amount realized upon sale or other disposition of the motor vehicle, off-highway vehicle, or trailer.

(4)

The rights of a buyer, lessee, or lien creditor that arise after a mortgage attaches to a motor or off-highway vehicle and before perfection under this article are determined by section 4-9-317, C.R.S.

Source: Section 42-6-120 — Security interests upon vehicles, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-42.­pdf (accessed Oct. 20, 2023).

42‑6‑101
Short title 42‑6‑102
Definitions 42‑6‑103
Application 42‑6‑104
Administration - rules 42‑6‑106
Certificates of registration - plates 42‑6‑107
Certificates of title - contents - rules 42‑6‑109
Sale or transfer of vehicle - program 42‑6‑110
Certificate of title - transfer - department records - rules - definition 42‑6‑110.5
Certificates of title - arrangements for transfer of title upon death - beneficiary designation forms - definitions 42‑6‑111
Sale to dealers - certificate need not issue 42‑6‑112
Initial registration of a vehicle - dealer responsibility to timely forward certificate of title to purchaser or holder of a chattel mortgage - penalty 42‑6‑113
New vehicles - bill of sale - certificate of title - rental businesses - rules 42‑6‑114
Transfers by bequest, descent, or law 42‑6‑115
Furnishing bond for certificates 42‑6‑116
Applications for filing of certificates of title - rules 42‑6‑117
Filing of certificate 42‑6‑118
Amended certificate 42‑6‑119
Certificates for vehicles registered in other states 42‑6‑120
Security interests upon vehicles 42‑6‑121
Filing of mortgage - rules 42‑6‑122
Disposition of mortgages by agent - rules 42‑6‑123
Disposition after mortgaging 42‑6‑124
Disposition of certificates of title 42‑6‑125
Release of mortgages - rules 42‑6‑126
New certificate upon release of mortgage 42‑6‑127
Duration of lien of mortgage - extensions - rules 42‑6‑128
Validity of mortgage between parties 42‑6‑129
Second or other junior mortgages 42‑6‑130
Priority of secured interests 42‑6‑131
Mechanic’s, warehouse, and other liens 42‑6‑133
Foreign mortgages and liens 42‑6‑134
Where application for certificates of title made 42‑6‑135
Lost certificates of title 42‑6‑136
Surrender and cancellation of certificate - penalty for violation 42‑6‑136.5
Salvage title 42‑6‑137
Fees 42‑6‑138
Disposition of fees 42‑6‑139
Registration and title application - where made 42‑6‑140
Registration upon becoming resident 42‑6‑141
Director’s records to be public 42‑6‑142
Penalties 42‑6‑143
Altering or using altered certificate 42‑6‑144
False oath 42‑6‑145
Use of vehicle identification numbers in applications - rules 42‑6‑146
Repossession of motor vehicle or off-highway vehicle - owner must notify law enforcement agency - definition - penalty 42‑6‑147
Central registry - rules 42‑6‑148
Off-highway vehicles - sales 42‑6‑201
Definitions 42‑6‑202
Prohibited acts - penalty 42‑6‑204
Private civil action 42‑6‑205
Consumer protection 42‑6‑206
Disclosure requirements upon transfer of ownership of a salvage vehicle - rules - definitions
Green check means up to date. Up to date

Current through Fall 2024

§ 42-6-120’s source at colorado​.gov