Office of the Public Trustee

Pueblo County Public Trustee

The powers and duties of the office of the Public Trustee and procedures for the operation of the office are defined in Title 38 of the Colorado Revised Statues (C.R.S.) Volume 10. The areas covered are:

• Releases of Deeds of Trust
• Foreclosures of Deeds of Trust
• Tax Escrow Accounts for Land Purchase Contracts

The Public Trustee does not:

• Give legal advise, Contact an Attorney
• Handle Tax Sales, Contact the County Treasurer
• Release private trustee mortgage transactions
• Handle Federal Auctions, such as HUD or VA.
• Have information regarding liens on foreclosed property.
• Have access to the foreclosed property

General Public Trustee Information

House Bill Number 48 known as “AN ACT” was approved by the Colorado General Assembly on March 5, 1894. “AN ACT” established the office of the Public Trustee in each county of the State of Colorado and provides a system of checks and balances between the borrower and the lender. All deeds of trust given to secure indebtedness on real estate shall name as trustee such Public Trustee who acts as an intermediary between the borrower and the lender.

The powers and duties of the office of the Public Trustee and procedures for the operation of the office are defined in Title 38 of the Colorado Revised Statutes (C.R.S.) Volume 10. The areas covered are:

Foreclosure of Deeds of Trust
Releases of Deeds of Trust
Tax Escrow Accounts for Land Purchase Contracts
Unique among the fifty states in its public trustee/lender relationship, Colorado’s foreclosure statutes, as interpreted by the courts, have provided a reasonably quick and inexpensive process for the lienor to exercise its rights an remedies, while affording the owner of the property a fair opportunity to protect his interest in the property.

For the Public Trustee to have the powers granted by statute, deeds of trust must grant such trustee an interest in the property encumbered by the Deed of Trust. Any deed of trust that names anyone other than a Public Trustee is deemed to be a mortgage for all purposes and would have to foreclosed judicially.

Ample cure rights are afforded the owner of the property being foreclosed and redemption rights to each junior lienor having a recorded interest in the property being foreclosed. To provide a foreclosing party certainty in its remedies, requirements and deadlines must be met by all parties or the owner’s and lienor’s rights will be extinguished. It is the responsibility of the Public Trustee’s office to ensure that the owners, junior lienors and lenders understand the Public Trustee’s process and to ensure that each party complies with the statutes.

If the borrower believes that a lender or servicer has violated the requirements for a single point of contact in section 38-38-103.1 or the prohibition on dual tracking in section 38-38-103.2, the borrower may file a complaint with the colorado attorney general, the federal consumer financial protection bureau (cfpb), or both. The filing of a complaint will not stop the foreclosure process.

NOTICE TO AN OWNER IN FORECLOSURE:

If your property goes to foreclosure auction sale and is purchased for more than the total owed to the lender and to all other lien holders, please contact the Public Trustee’s Office after the sale because you may have funds due to you.
“The following information does not replace the Colorado Revised Statutes” and is only an interpretation of the guidelines established by Colorado law.

For legal direction refer to the Colorado Revised Statutes and/or seek legal counsel.