(1)(a) If the applicant for a
certificate of title to a motor or off-highway vehicle is unable to provide the director
or the authorized agent with a certificate of title duly transferred to the applicant or
other evidence of ownership satisfactory to the director as specified in rules
established under section 42-6-104, the director or the authorized agent may file a
certificate of title for the vehicle if the applicant furnishes the director or the
authorized agent with a statement, in a form specified by the director, that contains:
(I)A recital of the facts and circumstances by which the applicant acquired
the ownership and possession of the vehicle;
(II)The source of the title to the vehicle; and
(III)Other information as the director may require to determine:
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(1) (a) If the applicant for a
certificate of title to a motor or off-highway vehicle is unable to provide the director
or the authorized agent with a certificate of title duly transferred to the applicant or
other evidence of ownership satisfactory to the director as specified in rules
established under section 42-6-104, the director or the authorized agent may file a
certificate of title for the vehicle if the applicant furnishes the director or the
authorized agent with a statement, in a form specified by the director, that contains:
(I) A recital of the facts and circumstances by which the applicant acquired
the ownership and possession of the vehicle;
(II) The source of the title to the vehicle; and
(III) Other information as the director may require to determine:
(A) Whether any liens are attached to the motor vehicle;
(B) The date of the liens;
(C) The amount secured by the vehicle;
(D) Where the liens are of record; and
(E) The right of the applicant to have a certificate of title filed on behalf of
the applicant.
(b) The statement specified in paragraph (a) of this subsection (1) must
contain or be accompanied by a written declaration that it is made under penalty of
perjury in the second degree, as defined in section 18-8-503, C.R.S., and must
accompany the application for the certificate as required in section 42-6-116.
(c) The director or the authorized agent may maintain any evidence
submitted to the director or the authorized agent in a paper or electronic version.
(d) Upon receipt of an application by the owner of a motor or off-highway
vehicle that is subject to a lien or mortgage, the authorized agent shall not issue a
certificate of title unless the owner includes a signed original or signed duplicate of
the mortgage or copy of the mortgage. Upon receiving the mortgage, the
authorized agent shall comply with sections 42-6-121 (2), 42-6-122, and 42-6-123
concerning the lien or mortgage.
(2) If the director or the authorized agent finds that the applicant is the same
person to whom a certificate of title for the vehicle has previously been issued or
filed and to whom a license was issued for the year during which the application for
the certificate of title is made and that a certificate of title should be filed on behalf
of the applicant, the director or authorized agent may file the certificate.
(3) (a) Except as provided by paragraph (b) of this subsection (3) or section
42-12-402, the department or an authorized agent shall not file a certificate of title
under this section until the applicant furnishes evidence of a savings account,
deposit, or certificate of deposit meeting the requirements of section 11-35-101,
C.R.S., or a good and sufficient bond with a corporate surety, to the state, in an
amount fixed by the director, not less than twice the reasonable value of the vehicle
determined as of the time of application. The applicant and the applicant's surety
shall hold harmless any person who suffers loss or damage by reason of the filing
of a certificate under this section.
(b) (I) If a vehicle is twenty-five years old or older, the applicant has had a
certified vehicle identification number inspection performed on the vehicle, and the
applicant presents a bill of sale within twenty-four months after the sale with the
title application, the applicant need not furnish surety under this subsection (3). To
be excepted from the surety requirement, an applicant must submit an affidavit to
the department that is sworn to under penalty of perjury and that states that the
required documents submitted are true and correct.
(II) An applicant need not furnish surety under this subsection (3) for an off-highway vehicle if the applicant submits an affidavit under penalty of perjury
attesting to ownership of the vehicle and if the vehicle:
(A) Was moved to Colorado from a state not issuing certificates of title for
off-highway vehicles;
(B) Is used and held as inventory by a powersports dealer;
(C) Was owned by an agency of the United States or another state or a
political subdivision thereof;
(D) Was owned by an agricultural producer and used strictly for agricultural
purposes;
(E) Was owned exclusively for the purpose of being operated in an organized
competitive or noncompetitive event on publicly or privately owned or leased land;
except that this exemption does not apply unless the agency exercising jurisdiction
over the land specifically authorizes the organized competitive or noncompetitive
event; or
(F) Was used by a dealer, manufacturer, or authorized designee for an off-highway vehicle operator education or safety program.
(4) If any person suffers loss or damage by reason of the filing of the
certificate of title as provided in this section, the person has a right of action
against the applicant and the surety on the applicant's bond against either of whom
the person damaged may proceed independently of the other.