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Adobe PDFA Colorado deed of trust is an agreement by which a third party will hold the title of a borrower’s property until they repay a loan from a moneylender. ’This instrument differs from a mortgage in that it has three (3) parties instead of two (2), and the borrower does not hold title so long as they are in debt. With a “power of sale” clause in the deed of trust, the trustee may foreclose on the property without a court order should the borrower default.
Note: In Colorado, a county official known as the “Public Trustee” is the only third-party allowed to hold the title.
- Statutes: Article 39
- Formatting: § 30-10-406(3)(a), § 38-30-113(1)(b)
- Signing Requirements (§ 38-30-126(1) & 38-35-103): Acknowledged by an officer as described in § 38-30-126(1)
- Where to record (§ 38-35-106(1)): County Clerk’s Office
- Recording fees (§ 30-1-103(1), § 30-10-421(1) & § 24-21-403(2)): $10 for the first page, $5 for each additional page + $3 surcharge
Related Forms (1)
Colorado Promissory Note – Details the terms of repayment between the borrower and moneylender.
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