Colorado § 38-22-114 Disposition of proceeds - execution

Colorado Statutes

§ 38-22-114 — Disposition of proceeds - execution

Colorado·Title 38 Property -·Art. General Mechanics' Lien

(1)The court shall cause said property to be sold in satisfaction of said liens and costs of suit as in case of foreclosure of mortgages; and any party in whose favor a judgment for a lien is rendered, may cause the property to be sold within the time and in the manner provided for sales of real estate on executions issued out of any court of record, and there shall be the same rights of redemption as are provided for in the case of sales of real estate on executions. And if the proceeds of such sale, after the payment of costs, are not sufficient to satisfy the whole amount of such liens included in the decree of sale, then such proceeds shall be apportioned according to the rights of the several parties. In case the proceeds of sale amount to more than the sum of said liens an

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(1) The court shall cause
said property to be sold in satisfaction of said liens and costs of suit as in case of
foreclosure of mortgages; and any party in whose favor a judgment for a lien is
rendered, may cause the property to be sold within the time and in the manner
provided for sales of real estate on executions issued out of any court of record,
and there shall be the same rights of redemption as are provided for in the case of
sales of real estate on executions. And if the proceeds of such sale, after the
payment of costs, are not sufficient to satisfy the whole amount of such liens
included in the decree of sale, then such proceeds shall be apportioned according
to the rights of the several parties. In case the proceeds of sale amount to more
than the sum of said liens and all costs, then the remainder shall be paid over to the
owner of said property; and each party whose claim is not fully satisfied in the
manner provided in this section shall have execution for the balance unsatisfied
against the party personally liable, as in other cases.

(2) In the first instance without a previous sale of said property to which such
liens have attached, an execution may issue in behalf of any such lien claimant for
the full amount of his claim against the party personally liable, and he may
thereafter enforce such lien for any balance of such judgment remaining
unsatisfied. A transcript of the docket of said judgment and decree may be filed
with the county clerk and recorder of the county where such property is situated or
in any other county, and thereupon said judgment and decree shall become a lien
upon the real property in such county of each party so personally liable in favor of
any such lien claimant holding any such judgment against any such party so
personally liable, as in other cases of recording transcripts of judgment.

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