SB 22-229

  • Colorado Senate Bill
  • 2022 Regular Session
  • Introduced in Senate Apr 29, 2022
  • Passed Senate Apr 29, 2022
  • Passed House May 10, 2022
  • Signed by Governor Jun 07, 2022

Release Deed Of Trust Without Evidence Of Debt

Abstract

Under current law, with limited exceptions, a public trustee must release a deed of trust upon the satisfaction of certain preconditions, one of which is the production of the original canceled evidence of debt such as a note or bond as evidence that the indebtedness secured by the deed of trust has been paid. To this requirement, section 1 of the bill adds another exception. That is, a holder of the original evidence of debt may request the release of a deed of trust without producing or exhibiting the original evidence of debt if the holder: Agrees to indemnify and defend the public trustee against any claim for damages resulting from the action of the public trustee taken in accordance with the request; Provides the public trustee a current address for the original grantor, assuming party, or current owner when requesting the release of the deed of trust; and Files the request for the release of the deed of trust electronically via the county's electronic recording system. Section 1 also removes language requiring a title insurance company to be "qualified" as well as licensed in Colorado for certain purposes relating to the release of a deed of trust.Section 2 makes necessary changes to the statutory form that is used to request a deed of trust without producing the evidence of debt.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Bill Sponsors (4)

Votes


Actions


Jun 07, 2022

Office of the Governor

Governor Signed

May 25, 2022

Office of the Governor

Sent to the Governor

House

Signed by the Speaker of the House

Senate

Signed by the President of the Senate

May 10, 2022

Senate

Senate Considered House Amendments - Result was to Concur - Repass

House

House Third Reading Passed - No Amendments

May 09, 2022

House

House Third Reading Laid Over Daily - No Amendments

May 06, 2022

House

House Second Reading Special Order - Passed with Amendments - Floor

May 04, 2022

House

House Committee on Business Affairs & Labor Refer Unamended to House Committee of the Whole

  • Committee-Passage
  • Referral-Committee
House Committee of the Whole Business Affairs & Labor

Apr 29, 2022

House

Introduced In House - Assigned to Business Affairs & Labor

  • Introduction
Business Affairs & Labor

Senate

Senate Third Reading Passed - No Amendments

Apr 28, 2022

Senate

Senate Second Reading Special Order - Passed - No Amendments

Apr 27, 2022

Senate

Senate Committee on Business, Labor, & Technology Refer Unamended - Consent Calendar to Senate Committee of the Whole

  • Committee-Passage
Business, Labor, & Technology

Apr 25, 2022

Senate

Introduced In Senate - Assigned to Business, Labor, & Technology

  • Introduction
Business, Labor, & Technology

Bill Text

Bill Text Versions Format
Signed Act (06/07/2022) PDF
Final Act (05/25/2022) PDF
Rerevised (05/10/2022) PDF
Revised (05/06/2022) PDF
Reengrossed (04/29/2022) PDF
Engrossed (04/28/2022) PDF
Introduced (04/25/2022) PDF
Committee Amendment PDF

Related Documents

Document Format
Fiscal Note FN1 (04/26/2022) PDF
Fiscal Note FN2 (07/26/2022) PDF

Sources

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