A lien is a charge on property for the payment or discharge of a particular debt having priority to the general debts of the owner of the property. Liens may be either general or specific. A specific lien is a charge on particular personal property for the sum due with respect to that particular piece of property.
The following form creates a lien on automobile parts and motors for charges incurred by the Machine Shop for its services and charges in repairing and/or rebuilding the items. Upon failure by Customer to pay all charges for repairing or rebuilding the items, Machine Shop may sell the items by public or private sale, and the net proceeds of such disposition, after deducting all expenses of Machine Shop, shall be credited against the total amount owed by Customer to Machine Shop.. Machine Shop may purchase any of the items at any public or private sale by simply bidding its debt and expenses. No money need change hands, but a record should be kept detailing the date of the sale, the amount paid and the items sold and purchased.
Colorado Authorization for Lien and Sale for Nonpayment of Repair and / or Parts Charges - Car or Automobile
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Multi-State
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US-00754BG
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How to fill out Authorization For Lien And Sale For Nonpayment Of Repair And / Or Parts Charges - Car Or Automobile?
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FAQ
Colorado: Colorado's lien statute is relatively straightforward, and the written contract requirement is based on the contract price. The relevant part of the statute states that if the amount to be paid exceeds $500, the contract must be in writing in order to claim a mechanics lien.
As the property owner, you agree that the lender will have a lien over your property. In the event that you default, then the lender has the legal right to foreclose and sell your property to recover the amount which you owe.
Contractors, subcontractors, laborers, and material suppliers can file what is called a "mechanics lien" on a homeowner's property if they don't get paid.
Do I need a written contract in order to file a Colorado Mechanics Lien Claim? No. Oral contracts are sufficient if you have sufficient documentation to show the existence of an agreement or that you performed the work for which you are filing a lien.
Filing a Lien The chattel mortgage or security agreement must show the year, make, and full VIN or the serial number of the vehicle, the total lien amount, the assignment of lien, and the signature of the buyer or owner of the lien.
(4) "Spurious lien" means a purported lien or claim of lien that: (a) Is not provided for by a specific Colorado or federal statute or by a specific ordinance or charter of a home rule municipality; (b) Is not created, suffered, assumed, or agreed to by the owner of the property it purports to encumber; or.
When a person or entity files a spurious lien, Colorado law provides for an expedited process whereby a property owner can dispose of this lien. Under this law, a property owner can file a petition in Court, and the Court will issue an order to the person or entity that filed the lien to explain why the lien is valid.
A mechanic's lien form is a standard form that must contain: (1) the name of the property owner; (2) the lien claimant (i.e. the person claiming the lien); (3) a description of the property against which the lien is being filed; and (4) a statement of the amount due or owed.
