How Do I File an "Owners Intent to Redeem?"

Owner Redemption Rights

The owner of the foreclosed property or anyone liable after the foreclosure sale for any amount by which the foreclosing lender’s bid was less than the total sum secured by the deed of trust being foreclosed (called a deficiency) has 75 days after the sale date to redeem the property, unless the property is agricultural, in which case the redemption period is six months. Agricultural property for this purpose means that none of the property being foreclosed is: all or part of a platted subdivision; located within an incorporated city or town; or assessed by the assessor of the county in which the Property is located as other than agricultural land. An owner intending to redeem his or her property must file with the Public Trustee an Owner's Intent to Redeem. The Owner's Intent to Redeem must be filed with the Public Trustee at least 15 days prior to the end of the owner's redemption period.

Colorado Revised Statute 38-38-302 makes provisions for the owner of a property in foreclosure to redeem the property after it has gone to foreclosure sale.

• After the foreclosure sale the owner of the property has a “redemption” time in which to redeem the property. Residential/commercial property owners have seventy-five (75) days to redeem the property. Owners of agricultural property have six (6) months to redeem the property.
• An Owner Intent to Redeem form must be filed with the office of the Public Trustee 15 days prior to the end of the owner’s redemption time. The owner must provide evidence of ownership, such as the recorded Warranty Deed, Quit Claim Deed, etc. If you do not have the recorded document, a copy may be obtained at the Clerk and Recorder office located at 1402 N. 17th Avenue, Greeley, CO.
• Upon receipt of the completed Intent To Redeem form, the Public Trustee will request the figures for the redemption amount from the foreclosing party. This will include the amount the property sold for at sale, per diem interest at the default rate of the note, and any other expenses allowed by Colorado law.
• We will contact you when we receive the redemption figures from the attorney. You must present the requested amount in the form of cash or certified funds to the office of the Public Trustee on or before the final day of the owners’ redemption.
• In an owner redemption, the sale is annulled and the owner retains title to the property, subject to all liens and encumbrances of record except the deed of trust that was foreclosed upon (the owner has paid off this deed upon redemption).

• The Public Trustee cannot extend the owner redemption time.
• The Public Trustee cannot accept late redemption funds.
• It may take up to fourteen (14) days to receive the requested redemption figures - please file the Owner Intent to Redeem form as soon as possible.
• It is your responsibility to contact the office of the Public Trustee for updated figures for the amount to redeem. Interest, late charges, attorney fees, etc., continue to accure during the redemption time.
• Please provide a working phone or fax number where we may contact you with the figures for the amount needed to redeem the property.