Pursuant to Colorado Revised Statute section 38-22-118, a corporation who has previously filed a lien statement must file an Acknowledgment of Satisfaction after payment in full of the amount attested to in the lien statement, including the cost of filing and recording said lien. Failure to file this acknowledgment within ten (10) days of the request of the property owner to do so may result in a statutory penalty of $10.00 per day being assessed against the lien claimant.
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Prepared by, recording requested by and return to: Name: Company: Address: City: State: Zip: Phone: Fax: ----------------------Above this Line for Official Use Only--------------------- ACKNOWLEDGEMENT
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How to fill out colorado acknowledgment of satisfaction
How to fill out Colorado Acknowledgment of Satisfaction:
01
Obtain the form: The Colorado Acknowledgment of Satisfaction form can be obtained from the Colorado Secretary of State's website or from a legal forms provider.
02
Fill in the debtor's information: Provide the full legal name and address of the debtor who owes the debt being satisfied.
03
Fill in the creditor's information: Provide the full legal name and address of the creditor who is receiving the satisfaction of the debt.
04
Include details of the debt: Specify the amount of the debt being satisfied and provide any relevant details such as the date of the debt and a description of what the debt is for.
05
Sign and date the form: The debtor must sign and date the form to acknowledge that they are satisfying the debt. This signature should be notarized.
06
Deliver the form: Once the form is completed and notarized, it should be delivered to the creditor or the creditor's designated representative.
Who needs Colorado Acknowledgment of Satisfaction?
01
Debtors: Individuals or businesses who owe a debt in Colorado and want to document that the debt has been satisfied can use the Colorado Acknowledgment of Satisfaction.
02
Creditors: Individuals or businesses who are owed a debt in Colorado and have received payment or satisfaction of that debt can use the Colorado Acknowledgment of Satisfaction to document the satisfaction and release the debtor from any further obligations.
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People Also Ask about
What is a lien of property in Denver Colorado?
What is a Property Lien in Colorado? A property lien in Colorado is attached to the assets of debtors. The creditor claims such properties if the debtor defaults in payment. Article 20, Title 38 of the Colorado Statutes regulates the execution of personal property liens in the state.
What is the notice extending time to file a lien statement in Colorado?
Get help filing your Colorado Mechanics Lien The Colorado Notice to Extend lengthens the time in which a mechanics lien can be filed. After filing the notice, the new lien filing deadline will be 4 months after the project is completed, or 6 months after filing the extension of time – whichever occurs first.
What is a mechanic's lien release form in Colorado?
The Colorado Mechanics Lien Release Form is used to cancel a lien that has already been filed. It's most often used to release a lien claim after a lien claimant receives payment. However, they may also be released based on settlements, legal controversies, because they expired, or more.
How long does a lien stay on a property in Colorado?
A judgment lien in Colorado will remain attached to the debtor's property (even if the property changes hands) for six years.
How do I put a lien on a property in Colorado?
Steps to file a Colorado mechanics lien Fill out the right Colorado mechanics lien form. Using a mechanics lien form that meets the statutory requirements, fill it out completely and accurately. Send a Notice of Intent to Lien to the property owner. File your lien claim with the Colorado county recorder.
When can you file a lien in Colorado?
Timely File Your Lien: Your mechanics lien in Colorado must be filed within 4 months, or 120 days, of the last date you provided labor and materials for the project. However, if you did not provide materials and only provided labor, you only have 2 months from your last day of providing labor to file your lien.
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What is colorado acknowledgment of satisfaction?
Colorado acknowledgment of satisfaction is a legal document used to officially confirm that a debt has been fully paid off or discharged in the state of Colorado.
Who is required to file colorado acknowledgment of satisfaction?
The party who has received full payment for a debt in the form of a lien or instrument is required to file a Colorado acknowledgment of satisfaction.
How to fill out colorado acknowledgment of satisfaction?
To fill out a Colorado acknowledgment of satisfaction, you need to provide information such as the name and address of the debtor, the property or asset involved, details of the debt, and a statement indicating that the debt has been fully paid or discharged.
What is the purpose of colorado acknowledgment of satisfaction?
The purpose of a Colorado acknowledgment of satisfaction is to release a lien or instrument that conveys an interest in real or personal property, indicating that the debt has been fully paid off or discharged.
What information must be reported on colorado acknowledgment of satisfaction?
The Colorado acknowledgment of satisfaction must include the name and address of the debtor, the property or asset involved, details of the debt, and a statement confirming that the debt has been fully paid or discharged.
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