§ 4-9-619 — Transfer of record or legal title

Colorado § 4-9-619

• Jurisdiction: Colorado
• Title 04: Uniform
• Art.: Secured Transactions

Text

(a) In this section, transfer
statement means a record signed by a secured party stating:

(1) That the debtor has defaulted in connection with an obligation secured by
specified collateral;

(2) That the secured party has exercised its post-default remedies with
respect to the collateral;

(3) That, by reason of the exercise, a transferee has acquired the rights of
the debtor in the collateral; and

(4) The name and mailing address of the secured party, debtor, and
transferee.

(b) A transfer statement entitles the transferee to the transfer of record of
all rights of the debtor in the collateral specified in the statement in any official
filing, recording, registration, or certificate-of-title system covering the collateral. If
a transfer statement is presented with the applicable fee and request form to the
official or office responsible for maintaining the system, the official or office shall:

(1) Accept the transfer statement;

(2) Promptly amend its records to reflect the transfer; and

(3) If applicable, issue a new appropriate certificate of title in the name of
the transferee.

(c) A transfer of the record or legal title to collateral to a secured party
under subsection (b) of this section or otherwise is not of itself a disposition of
collateral under this article and does not of itself relieve the secured party of its
duties under this article.

Legislative History

Source: L. 2001: Entire article R&RE, p. 1413, � 1, effective July 1. L. 2023: IP(a) amended, (SB 23-090), ch. 136, p. 567, � 84, effective August 7.