This form is a Personal Representative's Deed of Distribution where the grantor is the Personal Representative of an estate and the grantees are the beneficiaries of the estate. Grantor conveys the described property to the grantees. The Grantor warrants the title only as to events and acts while the property is held by the Personal Representative. This deed complies with all state statutory laws.
Pr Deed Colorado Foreclosure
State:
Colorado
Control #:
CO-02-84
Format:
Word;
Rich Text
Instant download
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How to fill out Colorado Deed Of Distribution - Personal Representative To Two Individuals?
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FAQ
inlieu of foreclosure is an arrangement where you voluntarily turn over ownership of your home to the lender to avoid the foreclosure process.
A Rule 120 hearing determines if the lender has the right to foreclose on the property and have it sold at a public auction. The judge may cancel this hearing and sign the order ?authorizing sale? if the borrower does not file an answer with the court or files the answer too late.
The Public Trustee records the Notice of Election and Demand (NED) and starts the foreclosure proceedings. This must be done within ten business days after receiving the documents from the lender's attorney.
Rule 120 of the Colorado Rules of Civil Procedure requires the foreclosing lender to ask a court to authorize the foreclosure sale as part of the nonjudicial process. At the Rule 120 hearing, the court determines if the lender has the right to foreclose and sell the property.
Similar to a short sale, a deed in lieu of foreclosure likely will not damage your credit as severely as a foreclosure or a bankruptcy. As noted above, the burden of selling your home shifts to someone else, so it may be more appealing than a short sale.