38-39-105. Removal of improvements from encumbered property.

Statute text

(1) An owner of real property shall not remove any improvement therefrom without first obtaining the written consent of the holder of any lien recorded prior to October 1, 1990, and the holder of the indebtedness secured by the deed of trust or mortgage having the most senior lien which encumbers such real property. This section shall not apply where any such improvement is expressly excepted from such lien.

(2) Any person who violates the provisions of subsection (1) of this section commits:

(a) A petty offense if the amount is less than three hundred dollars;

(b) A class 2 misdemeanor if the amount is three hundred dollars or more but less than one thousand dollars;

(c) A class 1 misdemeanor if the amount is one thousand dollars or more but less than two thousand dollars;

(d) A class 6 felony if the amount is more than two thousand dollars but less than five thousand dollars;

(e) A class 5 felony if the amount is five thousand dollars or more but less than twenty thousand dollars;

(f) A class 4 felony if the amount is twenty thousand dollars or more but less than one hundred thousand dollars;

(g) A class 3 felony if the amount is one hundred thousand dollars or more but less than one million dollars; and

(h) A class 2 felony if the amount is one million dollars or more.

History

Source: L. 90: Entire article R&RE, p. 1676, 3, effective October 1. L. 2002: (2) amended, p. 1555, 344, effective October 1. L. 2021: (2) amended, (SB 21-271), ch. 462, p. 3293, 687, effective March 1, 2022.

Annotations

Editor's note: This section is similar to former 38-38-103 and 38-38-104, as they existed prior to 1990.

Annotations

Cross references: For the legislative declaration in the 2002 act amending subsection (2), see section 1 of chapter 318, Session Laws of Colorado 2002.

Annotations

 

ANNOTATION

Annotations

Public trustee not required to send notice to consignor on promissory note of his right to cure and of foreclosure proceedings on deed of trust securing the note, despite fact that cosigner had right to cure the default. S.L.K. Testamentary Trust v. Davids, 692 P.2d 1147 (Colo. App. 1984), aff'd, 728 P.2d 1259 (Colo. 1987) (decided under 38-39-118 as it existed prior to the 1990 repeal and reenactment of this article and article 39).