HB 1098: Public Trustee Act Foreclosure Procedures

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

The act modifies the 'Colorado Public Trustee Act' to:Set the salary of the public trustee in counties where the county treasurer serves as the public trustee to a fixed amount of $12,500 annually to be paid monthly from the county general fund as part of the county's standard payroll process. On a quarterly basis, the public trustee is required to reimburse the county general fund for the monthly salaries from the fees collected by the public trustee or from the public trustee special reserve account.Eliminate the requirement that a public trustee make and file a full statement of all transactions of the office of the public trustee to the board of county commissioners under oath;Repeal the requirement that a public trustee appointed by the governor be subject to the state 'Procurement Code' for any purchase of more than $20,000;Repeal the definition of 'certified copy' and references thereto;Define 'nonmaterial misstatement' as a minor or inconsequential error, inaccuracy, or omission that does not significantly affect the understanding, validity, or enforceability of a document;Clarify the date by which the public trustee or sheriff conducting a foreclosure (officer) must mail the combined notice of sale, right to cure, and right to redeem to persons on an amended mailing list;Clarify that a junior lienor is entitled to cure the default if the junior lienor files with the officer;Specify that an unclaimed remaining amount for which a property is sold at a foreclosure sale that is in excess of the bid amount must either be transferred to the state treasurer for disposition in accordance with the 'Revised Uniform Unclaimed Property Act' or held by the county treasurer pursuant to the terms of a county resolution regarding unclaimed funds;Add a requirement regarding redemption that specifies that if a lien is assigned, the holder's rights are valid only if the assignment of the lien is duly recorded at least 15 calendar days prior to the date of sale; andSpecify the conditions under which an omitted party's interest may be terminated.(Note: This summary applies to this bill as enacted.)

Sponsors

Sponsors by party (alphabetical): Democratic 9 · Republican 4

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. May 4, 2026Governor Signed
2. April 23, 2026Sent to the Governor
3. April 22, 2026Signed by the Speaker of the House
4. April 22, 2026Signed by the President of the Senate
5. April 2, 2026House Considered Senate Amendments - Result was to Concur - Repass
6. March 25, 2026House Considered Senate Amendments - Result was to Laid Over Daily
7. March 24, 2026Senate Third Reading Passed - No Amendments
8. March 23, 2026Senate Second Reading Passed with Amendments - Committee, Floor
9. March 18, 2026Senate Committee on Local Government & Housing Refer Amended - Consent Calendar to Senate Committee of the Whole
10. March 6, 2026Introduced In Senate - Assigned to Local Government & Housing
11. March 2, 2026House Third Reading Passed - No Amendments
12. February 27, 2026House Third Reading Laid Over Daily - No Amendments

Showing 12 most recent of 15 actions. Full history