§ 38-29-133 — Duration of lien of mortgage - extensions

(1) The duration of
the lien of any mortgage on a manufactured home shall be for the full term of the
mortgage, but the lien of the mortgage may be extended beyond the original term
thereof for successive three-year periods during the term of the mortgage or any
extension thereof upon the holder thereof presenting the certificate of title, on
which the existence of the mortgage has been noted, to the authorized agent of the
county wherein said mortgage is filed, together with a notarized written request for
an extension of the mortgage or a written request that is made under the penalties
of perjury in the second degree, as defined in section 18-8-503, C.R.S., in which
shall appear a description of the undertaking secured, to what extent it has been
discharged or remains unperformed, and such other and further information
respecting the same as may be required by appropriate rule of the director to
enable him or her to properly record such extension upon the director's records.

(2) Upon receipt of a mortgage extension, the authorized agent shall make
and complete a record of the extension and shall issue a new certificate of title on
which the extension of the mortgage is noted. Thereafter the newly issued
certificate of title shall be returned to the person shown thereon to be entitled
thereto, the same as in other cases. If a mortgage noted on the certificate of title
has not been released or extended after its maturity date, the owner of the
manufactured home described in the certificate of title may request that any
references to the mortgages shown on the records of the authorized agent be
removed, and upon the request, the authorized agent shall remove such references.

Legislative History

Source: L. 83: Entire article added, p. 1459, � 1, effective June 15. L. 2009: Entire section amended, (SB 09-040), ch. 9, p. 66, � 7, effective July 1.