§ 39-11.5-110 — Procedure when purchaser fails to pay

Colorado § 39-11.5-110

• Jurisdiction: Colorado
• Title 39: Taxation
• Art.: Issuance of Treasurer's Deeds

Text

(1) If a person bidding
at the public auction fails to pay the amount due, at the time of sale, or within the
time period allowed by the treasurer, the treasurer shall award the certificate of
option for treasurer's deed to the next highest bidder from the public auction who
timely pays the amount due from bidding to the treasurer.

(2) In a public auction conducted by means of the internet or other electronic
medium, if a person bidding fails to pay the amount due at the time of sale, or within
the time period allowed by the treasurer, the treasurer shall award the certificate of
option for treasurer's deed to the next highest bidder from the public auction who
timely pays the amount due from bidding to the treasurer.

(3) The treasurer may prohibit a person who fails to pay the amount due from
bidding on sales under this article 11.5 for up to five years.

Legislative History

Source: L. 2024: Entire article added, (HB 24-1056), ch. 165, p. 795, � 5, effective July 1.