Chapter 3 - § 3.7 • SECURITY INTERESTS IN MANUFACTURED HOMES
| Jurisdiction | Colorado |
§ 3.7.1—In General
Except as mentioned below, the provisions of the Uniform Commercial Code95 relating to the filing, recording, release, renewal, and extension of mortgages96 are not applicable to manufactured homes. A mortgage intended by the parties thereto to encumber or create a lien on a manufactured home, to be effective as a valid lien against the rights of third persons, purchasers for value without notice, mortgagees, or creditors of the owner, must be filed for public record and the fact thereof noted on the owner's certificate of title or bill of sale substantially in the manner provided in C.R.S. § 38-29-128.97 The filing of the mortgage with the authorized agent and the notation by him or her of that fact on the certificate of title or bill of sale substantially in the manner provided in C.R.S. § 38-29-128 constitutes notice to the world of each and every right of the person secured by the mortgage.98
The provisions of C.R.S. §§ 38-29-125 and 38-29-128 do not apply to any mortgage or security interest upon a manufactured home held for sale or lease which constitutes inventory. As to such mortgages or security interests, the provisions of C.R.S. title 4, article 9 apply, and perfection of such mortgages or security interests must be made pursuant thereto, and the rights of the parties are governed thereby.99
Nothing in C.R.S. title 38, article 29 may be construed to impair the validity of a mortgage on a manufactured home between the parties thereto so long as no purchaser for value, mortgagee, or creditor without actual notice of the existence thereof has acquired an interest in the manufactured home described therein, notwithstanding that the parties to the mortgage have failed to comply with the provisions of C.R.S. title 38, article 29.100
§ 3.7.2—Existing Mortgages
Nothing in C.R.S. title 38, article 29 impairs the rights of the holder of a lien on a manufactured home created by mortgage or otherwise prior to August 1, 1949, which remains unreleased and the undertaking which the lien thereof secures remains undischarged. Nothing in C.R.S. title 38, article 29 relieves the holders of such liens of the duty to file such instruments respecting the undertakings secured thereby as may be required by law to preserve the liens of such mortgages unimpaired.101
§ 3.7.3—Foreign Mortgages
No mortgage on a manufactured home, filed for record in any state other than the state of Colorado, is valid and enforceable against the rights of subsequent purchasers for value, creditors, or mortgagees having no actual notice of the existence thereof. If the certificate of title for the home, whether issued under the laws of Colorado or any other state, bears thereon any notation adequate to apprise a purchaser, creditor, or mortgagee of the existence of such mortgage at the time any third party acquires a right in the manufactured home covered thereby, the mortgage and the rights of the holder thereof are enforceable in Colorado the same and with like effect as though the mortgage were filed in the state of Colorado and noted on the certificate of title.102
§ 3.7.4—Filing of Mortgage
The holder of a mortgage on a manufactured home who desires to secure to himself or herself the rights provided for in C.R.S. title 38, article 29 and to have the existence of the mortgage and the fact of the filing thereof for public record noted on the certificate of title to the manufactured home encumbered must present the mortgage or a duly executed copy or certified copy thereof and the certificate of title to the manufactured home encumbered to the authorized agent of the director in the county or city and county in which the manufactured home is located. Upon receipt of the mortgage or executed copy or certified copy thereof and certificate of title, the authorized agent, if he or she is satisfied that the manufactured home described in the mortgage is the same as that described in the certificate of title, will make and subscribe a certificate to be attached or stamped on the mortgage and on the certificate of title.103 The following information must appear in the certificate:
• The day and hour on which the mortgage was received for filing;
• The name and address of the mortgagee named in the mortgage and the name and address of the holder of the mortgage, if other than the mortgagee named;
• The amount secured by the mortgage;
• The date of the mortgage;
• The day and year on which the mortgage was filed for public record; and
• Such other information regarding the filing of the mortgage in the office of the authorized agent as may be required by the director by rule.104
The authorized agent must affix his or her signature and the seal of his or her office on the certificate.105
§ 3.7.5—Disposition After Mortgaging
Within 48 hours after a mortgage of a manufactured home has been filed in his or her office, the authorized agent will mail to the director the certificate of title or bill of sale on which he or she has affixed his or her certificate respecting the filing of the mortgage. Upon receipt thereof, the director will note, on records kept and maintained by the director in his or her office:
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• The fact of the existence of the mortgage on the manufactured
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