§ 38-39-209 — Mortgages to United States

Colorado § 38-39-209

• Jurisdiction: Colorado
• Title 38: Property -
• Art.: Mortgages, Deeds of Trust, and Other Liens

Text

(1) Any mortgage, deed of trust, or
other instrument executed by a corporation organized under the provisions of
articles 40, 55, and 56 of title 7, C.R.S., and given to secure any indebtedness to the
United States, or any agency or instrumentality thereof, which affects real or
personal property, or both, and which is recorded in the real property records in any
county in which such property is located or is to be located shall have the same
force and effect as if such instrument were also recorded, filed, or indexed as
provided by law in the proper office in such county as a mortgage of personal
property. All after-acquired real or personal property of such corporation,
described or referred to as being mortgaged or pledged in any such instrument,
shall become subject to the lien thereof immediately upon the acquisition of such
property by such corporation, whether or not such property was in existence at the
time of the execution of such instrument.

(2) Recordation of any such instrument shall constitute notice and otherwise
have the same effect with respect to such after-acquired property as it has under
the laws relating to recordation with respect to property owned by such corporation
at the time of the execution of such instrument and therein described or referred to
as being mortgaged or pledged thereby. The lien upon personal property of any
such instrument shall, after recordation thereof, continue in existence and of record
until the performance of the obligation secured thereby or the release or
satisfaction thereof by the owner thereof.

Legislative History

Source: L. 90: Entire article R&RE, p. 1678, � 3, effective October 1. L. 96: (1) amended, p. 546, � 13, effective July 1.