Colorado § 38-22.5-111 Substitution of bond allowed - lien to be discharged

Colorado Statutes

§ 38-22.5-111 — Substitution of bond allowed - lien to be discharged

Colorado § 38-22.5-111

Title 38Property -

Art.Commercial Real Estate Brokers

This text of Colorado § 38-22.5-111 (Substitution of bond allowed - lien to be discharged) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 38-22.5-111 (2026).

Text

(1)Whenever a brokers' lien has been recorded in accordance with this article, the owner of any interest in the property subject to the lien may, at any time, file with the clerk of the district court of the county wherein the property is situated a corporate surety bond or similar financial assurance. Such bond or assurance shall be in an amount equal to one and one-half times the amount of the lien plus costs allowed to date and is subject to approval by a judge of the district court with which such bond or assurance is filed.

(2)The bond or assurance shall be conditioned that, if the lien claimant is finally adjudged to be entitled to recover on the claim upon which the lien is based, the principal or surety shall pay to such claimant the amount of the judgment, including

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(1)
Whenever a brokers' lien has been recorded in accordance with this article, the
owner of any interest in the property subject to the lien may, at any time, file with
the clerk of the district court of the county wherein the property is situated a
corporate surety bond or similar financial assurance. Such bond or assurance shall
be in an amount equal to one and one-half times the amount of the lien plus costs
allowed to date and is subject to approval by a judge of the district court with which
such bond or assurance is filed.

(2) The bond or assurance shall be conditioned that, if the lien claimant is
finally adjudged to be entitled to recover on the claim upon which the lien is based,
the principal or surety shall pay to such claimant the amount of the judgment,
including any interest, costs, or other sums to which the claimant would be entitled
upon foreclosure of the lien.

(3) Notwithstanding any other provision of this article or section 38-35-110,
upon the filing of a bond or undertaking as provided in this section, the lien against
the property, and any notice of lis pendens relating to such lien or notice of the
commencement of any action relating to such lien, shall be immediately discharged
and released in full; the real property described in such bond or undertaking shall
be forever released from the lien, from any notice of lis pendens or notice of the
commencement of any action relating to such lien, and from any action brought to
foreclose the lien; the bond or undertaking shall be substituted; and no notice of lis
pendens or notice of the commencement of any action relating to such lien or any
action for the enforcement or foreclosure thereof shall thereafter be recorded
against the property. The clerk of the district court with which the bond or
undertaking has been filed shall issue a certificate of release, which shall be
recorded in the office of the clerk and recorder of the county in which the original
real estate brokers' lien was filed, and the certificate of release shall show that the
property has been forever released from the lien, from any notice of lis pendens
relating to such lien, from any notice of the commencement of any action relating
to such lien, and from any action brought to foreclose such lien.

Legislative History

Source: L. 2010: Entire article added, (HB 10-1288), ch. 179, p. 646, � 1, effective August 11. L. 2011: (3) amended, (SB 11-264), ch. 279, p. 1250, � 3, effective July 1.