Senate Bill 12-030 Requires Assignment of Liens Be Produced Prior to Redemption

The 2012 legislative session kicked-off today in Colorado! At this early stage in the session, Senate Bill 12-030 (“SB 030”) was introduced to clean-up administrative provisions of the public trustee foreclosure statute. 

Section 9 of the bill amends C.R.S. 38-38-302 to require that an individual holding an assignment of a lien must attach to the Notice of Intent to Redeem a copy of the lien assignment.

Since HOAs from time-to-time assign their lien rights to investors, CAI’s Colorado Legislative Action Committee (“CLAC”) will be reviewing this provision of the bill to determine whether it has any implications for associations.

 

We will keep you updated on SB 030 as it proceeds through the legislative process. 

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