Colorado § 38-13-1304 - Agreements to locate reported property - overbids from foreclosure sales.
Full text of Colorado Colorado Revised Statutes § 38-13-1304 — Agreements to locate reported property - overbids from foreclosure sales., with citation guidance and answers to common questions.
§ 38-13-1304. Agreements to locate reported property - overbids from foreclosure sales.
(1) Notwithstanding any provision of section 38-13-1303 to the contrary, an agreement to pay compensation to recover or assist in recovering an unclaimed overbid transferred to the administrator under section 38-38-111 is:
(a) Not enforceable unless entered into at least two years after the date of the transfer;
(b) Enforceable if:
(I) The agreement is in writing and signed by the owner, as defined in section 38-38-111 (5);
(II) The agreement describes the property and the date of the foreclosure sale from which the overbid was derived;
(III) The agreement sets forth the nature of the services to be provided;
(IV) The compensation to be paid under the terms of the agreement does not exceed ten percent of the amount of the overbid if entered into at least two years after the date of the transfer; and
(V) States that the apparent owner may directly file a claim for property with the administrator, who in Colorado is the state treasurer, without being charged a fee by the administrator.
(2) A person who induces or attempts to induce another person to enter into an agreement described in this section that does not comply with all requirements of subsection (1) of this section commits a class 2 misdemeanor.
(3) Nothing in subsection (1) of this section prohibits an owner from asserting, at any time, that a written, signed agreement to recover or assist in recovering an overbid is based on excessive or unjust consideration.
Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 456, § 1, effective July 1, 2020. L. 2021: (2) amended, (SB 21-271), ch. 462, p. 3292, § 681, effective March 1, 2022. L. 2025: (1)(b)(IV) amended, (HB 25-1224), ch. 440, p. 2537, § 14, effective June 4.
Editor's note: This section is similar to former § 38-13-128.5 as it existed prior to 2020.
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Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 38-13-1304
What does Colorado Revised Statutes § 38-13-1304 cover?
Section 38-13-1304 ("Agreements to locate reported property - overbids from foreclosure sales.") 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 § 38-13-1304?
A common citation format is "Colorado Revised Statutes § 38-13-1304" (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 § 38-13-1304 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.