In the State of Colorado, the standard means of securing a loan on real estate is with a Deed of Trust. There are three parties involved with a Deed of Trust
When a property owner executes a Deed of Trust, they are essentially deeding the property to the Public Trustee to hold in trust for the benefit of the lender until the indebtedness is paid in full. When it is paid, the lender sends the Public Trustee a Request for Release and the Public Trustee confirms the release and re-conveys the property back to the property owner. Both the Deed of Trust and the Release of Deed of Trust are legal documents and anyone executing them should consider consulting legal counsel.
The Revenue Manager, Kim Pfeifer is responsible for executing Releases of Deeds of Trust and handling Foreclosures.
To stop the spread of Covid-19, Broomfield's City and County Buildings are open for limited in-person appointments only, starting on Monday, November 23. Please visit Broomfield.org to find many online services, programs and virtual opportunities to connect with staff and support residents during these tough times.