Colorado § 38-20-109 - Lienor may sell - procedure.

§ 38-20-109. Lienor may sell - procedure.

(1) When the lienor has received a judgment and after giving ten days' prior notice of the time and place of such sale, with a description of the property to be sold, by one publication in some newspaper published in the county wherein he or she resides or, if there is no such newspaper, by posting in three public places within such county and after delivering to the owner of such personal property or, if he or she does not reside in the county, transmitting by mail to him or her at his or her usual place of abode, if known, a copy of such notice, he or she may proceed to sell all such personal property, or so much thereof as may be necessary, at public auction, for cash in hand, at any public place within such county between the hours of 10 a.m. and 4 p.m. of the day appointed. From the proceeds thereof he or she may pay the reasonable costs of such foreclosure, notice, and sale and any necessary and reasonable charges for the preserving, maintaining, feeding, boarding, or caring for the property on which he or she has a lien, together with the reasonable cost of keeping such property up to the time of sale, but the reasonable costs of keeping such property up to the time of sale shall not exceed ninety dollars. He or she shall render the residue of the proceeds and of the property unsold to the owner.

(2) Where property upon which the lien is being foreclosed is in danger of serious and immediate decay or waste or is likely to depreciate rapidly in value pending the determination of the issue or where the keeping of it will be attended with great expense, the lienholder, as plaintiff to the action, may apply to the court, upon due notice as the court may direct, for a sale thereof; and, thereupon, the court in its discretion may order the property sold in the manner provided for in said order, and the proceeds of said sale shall be deposited with the clerk of the court to abide the further order of the court. Upon application for such order for sale, the court in its discretion, upon good cause shown, may require the plaintiff to give bond in an amount to be fixed by the court for the payment to the defendant of such amount as the defendant may be entitled to for damages sustained by the defendant in the event of wrongful foreclosure. The bond shall be secured by two or more sureties, by one corporate surety authorized to do business in this state, or by cash bond, to be approved by the court.

Source: L. 1883: p. 238, § 6. G.S. § 2123. R.S. 08: § 4018. C.L. § 6435. CSA: C. 101, § 8. CRS 53: § 86-1-8. C.R.S. 1963: § 86-1-8. L. 75: Entire section amended, p. 1417, § 3, effective April 24. L. 77: Entire section amended, p. 1710, § 5, effective May 18. L. 2005: (1) amended, p. 638, § 5, effective May 27.

Cross references: For publication of legal notices, see part 1 of article 70 of title 24.

ANNOTATION

Law reviews. For article, "Impact of the Uniform Commercial Code on Colorado Law", see 42 Den. L. Ctr. J. 67 (1965). For article, "The Rights of Landlords in Tenants' Personal Property", see 57 Den. L. J. 685 (1980). For article, "Colorado's Landlord Lien Statute: Equal Protection and Due Process Infirmities", see 11 Colo. Law. 1867 (1982). For article, "The Colorado Agistor's Lien Statute: Scope, Enforcement and Due Process", see 16 Colo. Law 989 (1987).

Automobile titleholder denied recovery for failure to pay lienor. An automobile titleholder, who instituted a replevin action against a parking lot owner to recover possession of the car which the parking lot owner retained under a claim of lien for storage charges, cannot prevail in his suit where he failed to pay, or make a legal tender of, the reasonable charges due the lienor. Jackson v. Price, 112 Colo. 97, 146 P.2d 892 (1944).