Colorado § 38-41-207 Proceeds exempt - bona fide purchaser

Colorado Statutes

§ 38-41-207 — Proceeds exempt - bona fide purchaser

Colorado·Title 38 Property -·Art. Limitations - Homestead Exemptions

(1)The following proceeds are exempt from execution or attachment for a period of three years after receipt if the person entitled to the exemption keeps the exempted proceeds separate and apart from other money so that the proceeds may be always identified:

(a)The proceeds from the exempt amount under this part 2, in the event the property is sold by the owner;

(b)The proceeds from a sale of homestead property under section 38-41-206 paid to the owner of the property or person entitled to the homestead; or

(c)The proceeds from insurance covering destruction of homestead property held for use in restoring or replacing the homestead property, up to the amount specified in this section.

(2)If the person receiving the proceeds uses the proceeds in the acquisition of other pro

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(1) The following
proceeds are exempt from execution or attachment for a period of three years after
receipt if the person entitled to the exemption keeps the exempted proceeds
separate and apart from other money so that the proceeds may be always
identified:

(a) The proceeds from the exempt amount under this part 2, in the event the
property is sold by the owner;

(b) The proceeds from a sale of homestead property under section 38-41-206 paid to the owner of the property or person entitled to the homestead; or

(c) The proceeds from insurance covering destruction of homestead property
held for use in restoring or replacing the homestead property, up to the amount
specified in this section.

(2) If the person receiving the proceeds uses the proceeds in the acquisition
of other property for a home, the same homestead exemption to which the owner
was entitled on the property sold carries over to the new property. The homestead
exemption is not valid against a person entitled to a vendor's lien or the holder of a
purchase money mortgage against the new property.

Colorado § 38-41-207 (Proceeds exempt - bona fide purchaser) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: R.S. p. 386, � 64. G.L. � 1350. G.S. � 1638. R.S. 08: � 2957. C.L. � 5931. CSA: C. 93, � 29. L. 53: p. 413, � 5. CRS 53: � 77-3-7. C.R.S. 1963: � 77-3-7. L. 75: Entire section R&RE, p. 1446, � 4, effective July 14. L. 2007: Entire section amended, p. 879, � 8, effective May 14. L. 2022: Entire section amended, (SB 22-086), ch. 74, p. 376, � 5, effective April 7.