§ 28-3-1406 — Mortgage or security on property

Colorado § 28-3-1406

• Jurisdiction: Colorado
• Title 28: Military and
• Art.: National Guard

Text

(1) In any proceeding
commenced during a period of state military service or state defense force active
duty, as described in section 28-3-1402, to enforce obligations secured by a
mortgage, trust deed, or other security upon real or personal property owned prior
to the commencement of the period of state military service or state defense force
active duty, the court may, on its own motion, stay the proceedings for the duration
of the period of service or duty and for thirty days thereafter or otherwise dispose
of the case as may be equitable to conserve the interests of all parties. The court
shall stay the proceedings upon the application of a person, or an agent of the
person, engaged in state military service or state defense force active duty unless,
in the opinion of the court, the ability of the person to comply with the terms of the
obligation is not materially affected.

(2) A sale, foreclosure, or seizure of property for nonpayment of any sum due
under any obligation, or for breach of the terms of any such obligation, is not valid if
made during a period of state military service or state defense force active duty, as
described in section 28-3-1402, or within thirty days thereafter, unless such sale,
foreclosure, or seizure is made upon an order previously granted by the court and a
return thereto made and approved by the court.

(3) This section applies only to obligations secured by a mortgage, trust
deed, or other security in the nature of a mortgage upon real or personal property
owned by a person described in section 28-3-1402 at the commencement of state
military service or state defense force active duty, which obligation originated prior
to the person's service or duty and is still owed by the person during the period of
service or duty.

Legislative History

Source: L. 2002: Entire part added, p. 692, � 1, effective July 1. L. 2003: Entire section amended, p. 2000, � 60, effective May 22.