Colorado § 39-11.5-114 - Rescission of public auction.

§ 39-11.5-114. Rescission of public auction.

(1) (a) If the successful purchaser at a public auction is a lawful holder, then the lawful holder may rescind the public auction without obtaining a court order by filing with the treasurer no later than three business days after the date of the public auction a notice of rescission of public auction stating that the public auction is being rescinded. The notice of rescission must include the treasurer's deed number, the date of the public auction, the name of the person to whom the certificate of option for a treasurer's deed was issued, the name of the assignee, if any, the recording date and reception number or book and page number for the recorded certificate of option for a treasurer's deed, and the legal description of the property sold. The notice must be signed and properly acknowledged by the lawful holder or assignee or signed by their attorney.

(b) Upon receipt of a notice of rescission of a public auction, any assignment of the certificate of option for a treasurer's deed, the treasurer's fee for the rescission specified in section 30-1-102 (1.7)(a)(IX), and the costs of recording the notice of rescission of a public auction, the treasurer shall record the notice of rescission of the public auction in the county records.

(2) Upon recording of a notice of rescission of public auction by a treasurer, a certificate of option for a treasurer's deed is deemed canceled as if the public auction had not occurred, and the certificate of purchase is deemed fully reinstated with the same lien priority as if the public auction had not occurred. The treasurer shall confirm the reinstatement by endorsement on the certificate of purchase submitted pursuant to section 39-11.5-102.

(3) Within ten calendar days after receipt of all documents and fees and costs specified in subsection (1)(b) of this section, the treasurer shall mail by first-class mail a copy of the notice of rescission of the public auction to each person who was entitled to receive the notice of the public auction pursuant to section 39-11.5-104.

(4) (a) After the recording of a notice of rescission of public auction, a lawful holder or the assignee may notify the treasurer in writing to reschedule the public auction. The treasurer shall set a new public auction at least thirty calendar days but not more than forty-five calendar days after the date on which the treasurer receives notice to schedule a new public auction, subject to the requirements of section 39-11.5-109.

(b) No later than ten calendar days after receiving notice to schedule a new public auction, the treasurer shall mail by first-class mail a notice of public auction setting forth the rescheduled public auction date to each person who was entitled to receive the notice of public auction pursuant to section 39-11.5-104.

(c) No more than twenty calendar days after receiving notice to schedule a new public auction, but no less than ten calendar days prior to the newly scheduled public auction date, the treasurer shall publish the notice of public auction one time only, subject to the following limitations:

(I) If the assessed value of a property at the time a treasurer receives notice to schedule a new public auction is less than five hundred dollars, no publication is required; or

(II) If there is no newspaper of general circulation in the county where the property is located, then the treasurer shall post the notice for public auction conspicuously in the offices of the county clerk and recorder, the treasurer, and the assessor and in at least two other public places in the county seat.

(d) All fees and costs of a treasurer for actions performed under this section and the cost of recording the notice of rescission of public auction must be part of the treasurer's deed costs.

(e) After a public auction has been rescinded and rescheduled pursuant to this subsection (4), the public auction may be continued in accordance with section 39-11.5-111 (1)(a).

(f) If a written request to reschedule the public auction is not received by a treasurer within one year of the recording of a notice of rescission, an application for treasurer's deed must be withdrawn.

(5) Nothing in this section prevents any person from seeking a rescission of a public auction through a court of competent jurisdiction.

(6) Claims for damages by any person arising out of a rescission of a public auction pursuant to this section are limited to the reasonable actual expenses of the person and must not include any speculative or expectation damages, awards, or claims of any kind, whether legal or equitable.

(7) The endorsement of the treasurer pursuant to subsection (2) of this section must be in substantially the following form:

The undersigned, as treasurer for the county of _______________, state of Colorado, by this endorsement, hereby confirms the reinstatement of this certificate of purchase in accordance with the requirements of section 39-11.5-113, Colorado revised statutes.

Date:

Signature:

Treasurer

For the county of ____________,

State of Colorado.

Source: L. 2026: Entire article R&RE, (SB 26-144), ch. 135, p. 643, § 53, effective June 1.