Colorado § 38-38-108 - Date of sale.

§ 38-38-108. Date of sale.

(1) Whenever property is to be sold following the foreclosure of any deed of trust or other lien by the officer, the initial date of sale shall be:

(a) In the case of a sale of property by the public trustee that is not agricultural property, no less than one hundred ten calendar days nor more than one hundred twenty-five calendar days after the date of recording of the notice of election and demand;

(b) In the case of a sale of property by the sheriff that is not agricultural property, no less than one hundred ten calendar days after the date of the recording of the lis pendens;

(c) In the case of a sale of property by the public trustee, all of which is agricultural property, no less than two hundred fifteen calendar days nor more than two hundred thirty calendar days after the date of recording of the notice of election and demand; or

(d) In the case of a sale of property by the sheriff, all of which is agricultural property, no less than two hundred fifteen calendar days after the date of the recording of the lis pendens.

(2) (a) (I) If it is not evident from the legal description contained in the deed of trust or other lien being foreclosed whether the property described therein is agricultural property, the officer shall make that determination no less than ten calendar days nor more than twenty calendar days after the recording of the notice of election and demand; except that the officer may make the determination at any earlier time upon presentation of acceptable evidence that the property is not agricultural property. The officer shall accept the following as evidence that the property is not agricultural property:

(A) A copy of the subdivision plat containing the property or any portion thereof recorded in the office of the clerk and recorder of the county where the property or any portion thereof is located; or

(B) A written statement by the clerk of the city, town, or city and county, dated no more than six months before the date of filing of the notice of election and demand or lis pendens with the officer, that all or a portion of the property was located within the incorporated limits of the city, town, or city and county as of the date of recording of the deed of trust or other lien or as of the date of the statement.

(C) (Deleted by amendment, L. 2016.)

(I.5) The officer shall accept, as evidence that the property is agricultural property, a written statement by the assessor of the county where the property is located, dated no more than six months before the date of filing of the notice of election and demand or lis pendens with the officer, that all of the property was valued and assessed as agricultural property after the date of the recording of the deed of trust or as of the date of the statement.

(II) The officer's determination of whether the property is agricultural or nonagricultural property shall be binding and may be relied upon by all parties.

(b) The statements described in sub-subparagraph (B) of subparagraph (I) and subparagraph (I.5) of paragraph (a) of this subsection (2) may be obtained and furnished at the expense of the person seeking the determination of whether the property is agricultural or nonagricultural property, which expense may be included as a portion of the fees and costs of the foreclosure.

(3) The provisions of this section shall not apply to sales following an execution and levy.

(4) Notwithstanding the designation of property valued and assessed as other than agricultural property according to the definition of "agricultural property" in section 38-38-100.3 (1)(c), an assessor's nonintegral classification of two acres or less of land on which a residential improvement is located, as described in section 39-1-102 (1.6)(a)(I)(A), C.R.S., is not determinative of whether the property is agricultural for purposes of paragraphs (c) and (d) of subsection (1) and subparagraph (I.5) of paragraph (a) of subsection (2) of this section.

Source: L. 90: Entire article R&RE, p. 1660, § 2, effective October 1. L. 2006: Entire section amended, p. 1457, § 14, effective January 1, 2008. L. 2007: (2)(a)(I)(C) amended, p. 1835, § 11, effective January 1, 2008. L. 2009: IP(2)(a)(I) amended, (HB 09-1207), ch. 164, p. 714, § 10, effective September 1. L. 2016: (2)(a)(I) and (2)(b) amended and (2)(a)(I.5) and (4) added, (HB 16-1339), ch. 346, p. 1410, § 1, effective August 10. L. 2026: (2)(a)(I)(A) amended, (HB 26-1098), ch. 90, p. 363, § 7, effective July 1.

Editor's note: (1) This section is similar to former § 38-39-117, as it existed prior to 1990.

(2) The effective date for amendments made to this section by chapter 305, Session Laws of Colorado 2006, was changed from July 1, 2007, to January 1, 2008, by section 27 of chapter 404, Session Laws of Colorado 2007. (See L. 2007, p. 1849.)

ANNOTATION

Law reviews. For article, "Foreclosure by Sale by Public Trustee of Deeds of Trust in Colorado", see 28 Dicta 437 (1951). For note, "Statutory Redemption in Colorado: 1965 Amendments", see 39 U. Colo. L. Rev. 127 (1966). For comment, "The Effect of Certified Realty on Mortgage Foreclosure in Colorado", see 52 U. Colo. L. Rev. 301 (1981). For comment, "The Effect of Certified Realty Corp. v. Smith on Mortgage Foreclosure in Colorado", see 52 U. Colo. L. Rev. 301 (1981). For article, "Real Estate Foreclosures and Federal Tax Liens", see 17 Colo. Law. 35 (1988).

Annotator's note. Since § 38-38-108 is similar to § 38-39-117 as it existed prior to the 1990 repeal and reenactment of this article and article 39, relevant cases construing that provision have been included in the annotations to this section.

Within seven days of Rule 120 hearing. When a creditor seeks to foreclose a deed of trust or mortgage, the foreclosure sale must be scheduled not less than seven days after the hearing conducted under C.R.C.P. 120. Kirchner v. Sanchez, 661 P.2d 1161 (Colo. 1983).

Applied in Williams v. Vestman, 668 P.2d 957 (Colo. App. 1983).