Requirements upon satisfaction of indebtedness (Section 38-35-124, C.R.S.)

Whenever all indebtedness secured by a lien on real property has been satisfied, Unless the debtor requests in writing that the lien not be released, the creditor or holder of the indebtedness shall within 90 days after the satisfaction of the indebtedness and receipt from the debtor the reasonable costs of procuring and recording the release documents necessary to release or satisfy the lien of record or, in the case of an indebtedness secured by a Deed of Trust to a Public Trustee, file with the Public Trustee the documents required for a release as prescribed by Section 38-39-102, C.R.S.

To execute a release of Deed of Trust, it is necessary to submit the following to the Public Trustee's Office: 

• Request for Release of Deed of Trust Form signed by all holders of the Evidence of Debt or their attorney or agent.  Lenders signature(s) must be acknowledged by a Notary Public.
• The original Evidence of Debt marked "Paid in Full", signed by holder(s) of the Evidence of Debt.  If the original Evidence of Debt cannot be produced one of the following is acceptable:
  • If financial institution - Resolution & Indemnification
  • If financial institution - Bradford Form #1197
  • Lost Instrument Bond
   
• Originally recorded Deed of Trust or "Certified" copy available from the Mesa County Clerk & Recorder (Always required - this is not the "Evidence of Debt")
• Public Trustee fee of $15.00 plus $11.00 for one page releases plus $5.00 for each additional page

All Release Forms can be obtained from an Office Supply store