Colorado § 5-3-201 - Security in sales or leases.
Full text of Colorado Colorado Revised Statutes § 5-3-201 — Security in sales or leases., with citation guidance and answers to common questions.
§ 5-3-201. Security in sales or leases.
(1) With respect to a consumer credit sale, a creditor may take a security interest in the property sold. In addition, a creditor may take a security interest in goods upon which services are performed or to which goods sold are annexed, or in land to which the goods are affixed or that is maintained, repaired, or improved as a result of the sale of the goods or services, if in the case of a security interest in land the debt secured is three thousand dollars or more, or in the case of a security interest in goods the debt secured is one thousand dollars or more. Except as provided with respect to cross-collateral described in section 5-3-202, a creditor may not otherwise take a security interest in property of the consumer to secure the debt arising from a consumer credit sale.
(2) With respect to a consumer lease, a creditor may not take a security interest in property of the consumer to secure the debt arising from the lease. This subsection (2) does not apply to a security deposit for a consumer lease.
(3) A security interest taken in violation of this section is void.
Source: L. 2000: Entire article R&RE, p. 1218, § 1, effective July 1.
Editor's note: This section is similar to former § 5-2-407, as it existed prior to 2000.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 5-3-201
What does Colorado Revised Statutes § 5-3-201 cover?
Section 5-3-201 ("Security in sales or leases.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 5-3-201?
A common citation format is "Colorado Revised Statutes § 5-3-201" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 5-3-201 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.