Colorado § 38-20-107 Commencement of foreclosure action

Colorado Statutes

§ 38-20-107 — Commencement of foreclosure action

Colorado·Title 38 Property -·Art. Lien on Personal Property

(1)If any such charges for which a lien is given by section 38-20-102, 38-20-105, 38-20-106, or 38-20-106.2 or for which a lien is restored by section 38-20-106.5 are not paid within thirty days after the same become due and payable, the mechanic, innkeeper, or other person to whom such lien is given may file a foreclosure action in the county or district court of the county or city and county in which the contract or agreement between the lienholder and the owner of the property was signed or entered into, in which the owner resided at the time the contract or agreement was entered into, in which the owner resides at the time the foreclosure action is commenced or in which the work was performed, or, in the case of a lien created pursuant to section 38-20-106.2, in which any wor

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(1) If any such charges
for which a lien is given by section 38-20-102, 38-20-105, 38-20-106, or 38-20-106.2 or for which a lien is restored by section 38-20-106.5 are not paid within thirty
days after the same become due and payable, the mechanic, innkeeper, or other
person to whom such lien is given may file a foreclosure action in the county or
district court of the county or city and county in which the contract or agreement
between the lienholder and the owner of the property was signed or entered into, in
which the owner resided at the time the contract or agreement was entered into, in
which the owner resides at the time the foreclosure action is commenced or in
which the work was performed, or, in the case of a lien created pursuant to section
38-20-106.2, in which any work was performed or materials were furnished. In the
event that the lienholder does not foreclose the lien by commencing a judicial
action within sixty days and if, under section 38-20-106, within ninety days after
charges become due and payable, the lien shall terminate. However, such period of
limitation may be extended by agreement between the parties for an additional
period not to exceed thirty days. For the purposes of this subsection (1), if the
contract between the owner and the lienholder provides for installment or
continuing payments, installments or continuing payments shall be deemed to be
due after default of any installment or payment or at the time the final installment
or payment is due and payable at the option of the lienholder.

(2) If the lienholder sells or otherwise disposes of the property of the owner
without substantially complying with this article, the owner is entitled to recover
from the lienholder the value of the property, but in no event less than one hundred
dollars, and reasonable attorney fees.

(3) Nothing in this article shall require a lienholder to commence a judicial
action to foreclose his lien if the property held is abandoned as defined in section
38-20-116.

Colorado § 38-20-107 (Commencement of foreclosure action) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 1883: p. 238, � 4. G.S. � 2121. R.S. 08: � 4016. C.L. � 6433. CSA: C. 101, � 6. CRS 53: � 86-1-6. C.R.S. 1963: � 86-1-6. L. 64: p. 289, � 222. L. 75: Entire section amended, p. 1416, � 1, effective April 24. L. 77: (1) amended, p. 1710, � 3, effective May 18. L. 81: (1) amended, p. 1821, � 2, effective July 1. L. 87: (1) amended, p. 1583, � 44, effective July 10. L. 98: (1) amended, p. 364, � 3, effective September 30. L. 2005: (1) amended, p. 638, � 4, effective May 27.