Chapter 3 - § 3.5 • TRANSFER OF OWNERSHIP OF MANUFACTURED HOMES

• Jurisdiction: Colorado

§ 3.5 • TRANSFER OF OWNERSHIP OF MANUFACTURED HOMES

§ 3.5.1—Certificates of Title — Transfer

Upon the sale or transfer of a manufactured home for which a certificate of title has been issued, the person in whose name the certificate of title is registered, if that person is other than a dealer, must, in his or her own person or by his or her duly authorized agent or attorney, execute a formal transfer of the home described in the certificate. The transfer must be affirmed by a statement signed by the person in whose name the certificate of title is registered or by his or her duly authorized agent or attorney and must contain or be accompanied by a written declaration that it is made under the penalties of perjury in the second degree.⁷⁶ Within 30 days thereafter, the purchaser or transferee must present the certificate, duly transferred, together with his or her application for a new certificate of title to the director or one of the director's authorized agents, accompanied by the fee required to be paid for the issuance of a new certificate, whereupon a new certificate of title will be used and disposition of it made as in other cases.⁷⁷

Before the sale or transfer of a manufactured home for which a certificate of title has been issued, a holder of a mortgage who is the legal holder of certificate of title must, within 14 days of the request, provide a copy of the certificate of title to any title insurance agent, title insurance company, or financial institution requesting information related to the payoff of the mortgage.⁷⁸

If certain conditions are met,⁷⁹ the legal holder of the certificate of title, within 45 days, must deliver to the title insurance agent who is the settlement agent related to the sale of the manufactured home the certificate of title or evidence that the holder has lost the certificate of title and requested a duplicate from the department. The holder must mail or otherwise deliver the duplicate certificate of title to the title insurance agent within five business days of receipt from the department. Upon receipt from the holder, the title insurance agent will present the certificate of title to the person in whose name the certificate of title is issued or his or her authorized agent or attorney to allow such person to execute a formal transfer.⁸⁰

A person who violates the provisions of C.R.S. § 38-29-112(1.3) or (1.7) is liable to an injured person for any actual economic damages caused by the violation, to be recovered in a...