§ 39-3.5-113 — Voluntary repayment of loans for deferred tax

Colorado § 39-3.5-113

• Jurisdiction: Colorado
• Title 39: Taxation
• Art.: Tax Deferral for the Elderly

Text

(1) Subject to
subsection (2) of this section, all or part of a loan for deferred taxes and accrued
interest may, at any time, be paid by the taxpayer, his or her spouse, guardian,
conservator, attorney-in-fact, personal representative, next of kin, heir-at-law, or
child, or any person having or claiming a legal or equitable interest in the property.
If the deferred tax lien is paid, in whole or in part, by a mortgagee or the beneficiary
of a deed of trust or seller under contract, the amount paid may be added to the
unpaid balance of the mortgage or deed of trust but shall be added to the last
payment due under said mortgage or deed of trust or contract, without
amortization.

(2) Any payment made under this section shall be applied first to accrued
interest and then to a loan for deferred taxes. Such payment does not affect the
deferred tax status of the property. Voluntary payment does not give the person
paying the taxes any interest in the property.

Legislative History

Source: L. 78: Entire article added, p. 476, � 1, effective February 28, 1979. L. 2002: Entire section amended, p. 639, � 6, effective July 1.