How to Access Property Records in Colorado

What Information Can You Find in Colorado Property Records?

A property history search may reveal many interesting facts about the property itself or its previous owners. Some of the things you will find when embarking on a property history search are:

Deeds and Conveyance Records

Deeds are very common property records showing the current owner and who they purchased the property from. Deeds also indicate any warranty (implied or otherwise) that the seller (grantor) gives to the buyer (grantee). There are varying degrees of warranty with deeds.

All parties must sign deeds, and a notary witnesses them. Some of the information contained in deeds includes:

• Name of the Seller/Grantor and Buyer/Grantee.
• A detailed description of the property.
• Maps and plats along with boundaries and sometimes surveys showing the acreage and edges of the property.
• Conveyance language explaining the ownership transfer from one person or entity to another.
• Notarization and execution are at the bottom, where everyone signs to make it legal.

Much of the language contained in deeds refers to the warranty implied or specified and the conveyance of the land from one or more parties to another.

Property Tax Records

If you own property in Colorado, you must pay annual property taxes. If you fail to pay your property taxes, the county can put a lien on your property and eventually foreclose and sell your house at auction. Do whatever you can to stay current with your property taxes.

Colorado's effective tax rate is 0.49% of the property's value. Each county sets its own property rates, which may vary quite a bit from county to county. Colorado residents pay extremely low property taxes, with a median rate of around $2,600 annually.

Property tax records in Colorado include the following details:

• Legal description - The tax document must contain a legal description of the property on which a tax will be levied. The description must include the township, lot number, subdivision name, section, and size.
• Tax Payment History - Tax documents usually show a history of the payments made so far, including the amount and the date the payment was made.
• Property Owner - The tax document usually provides information about the property owner, including their name, address, and contact details.
• Tax Exemptions - The document will outline any exemptions that apply to the property.
• Tax Information - The record may show the tax charges applicable to the total amount due.

How Often is Property Tax in Colorado Assessed?

Real property in Colorado is assessed for tax purposes every two years, during the odd year. Local assessors under the County Assessor's Office access properties within their jurisdiction per fair market values. The specific time differs according to the area. Local assessors follow procedures per the office's instructions. But the standard assessment process is as follows:

• Local Valuation - The local assessor determines the property's value based on factors such as size, location, and comparable properties.
• Assessed Value - The assessor then applies the assessment rate to the home's market value. Assessment rates are subject to change. The calculations give the assessor the assessed value of the property.
• Tax Calculations - The assessor determines the taxes owed based on tax rates and the assessed value.
• Notification - The assessor notifies the property owner of the market value, assessed value, assessment rate, and taxes owed.
• Appealing - The property owner can appeal the assessor's report if they deem it unfair.

Building Permits and Regulations in Colorado

Each county in Colorado has its own office for building permits. You can apply for one as a homeowner or, better yet, have your contractor do it. The city of Denver has a helpful website explaining building permit laws and the process for obtaining one.

Property Liens and Encumbrances in Colorado

Liens are encumbrances that can negatively affect a property if there are too many. They can make it harder to sell the property and complicate real estate deals. There are two main types of liens: voluntary and involuntary.

Voluntary Liens

Voluntary liens are agreements you make with lenders where you use your home as collateral for a loan. Examples would be mortgages, lines of credit, and home equity loans.

• Mortgage Liens - Whenever you take out a mortgage to pay for your home, your lender will place a voluntary lien on your property. They do this to protect themselves. If you default on the loan, they can foreclose and sell your house at auction to recoup the money they lost.

  The following sections appear in a standard Colorado mortgage document:

  • Definition - The introductory section of the agreement explains the meanings of all terms and defines the parties and their obligations.
  • Interest Rates - This section includes information about the loan amount and interest rates. Interest rates are important because they determine the final amount payable to the lender.
  • Repayment Terms - The repayment terms show how frequent the payments should be and the required amount. It also outlines how long the mortgage should be in effect.
  • Collateral - This section outlines collateral and property the lender can liquidate to repay the loan and protect themselves.
  • Default Information - The document will outline the default terms, including penalties and fees.

Involuntary Liens

Involuntary liens are placed on your property when you fail to pay a debt or large expense that you owe. There are three main types.

• Mechanic's Liens - Mechanic's liens are imposed when you have someone work on your property and then fail to pay them. Some examples would be contractors, subcontractors, laborers, material suppliers, or landscapers. These individuals must follow strict rules for filing a mechanic's lien, but if successful when you sell the house, they will get paid.
• Tax Liens - If you fail to pay the county your annual property taxes, they can put a lien on your house and eventually foreclose and sell it at auction. Tax liens are very serious; you should do all you can to avoid them.
• Judgment Liens - Creditors and others to whom you owe money can use a judgment lien to get you to pay. They first must sue you, and then, if they win, they can foreclose and force the sale of your house to get paid.

The Process of Property Liens in Colorado

Below is the standard process for filing a lien in Colorado:

• Before filing a lien, individuals must send a notice of intent to lien to the debtor. The notice must come at least ten days before filing the lien. Individuals may file the notice in person or via mail. In addition, individuals must keep a copy of the notice as proof if the lien is canceled due to improper notification.
• Next, the individual can prepare the lien form. Depending on the type of lien, the form will require various information. However, the basic details include a description of the property, the name of the owner, and the claim amount. Individuals must be very careful when filling in the details as liens laws in Colorado are strict.
• The individual must get the lien notarized.
• Now, the individual may file the complete notarized document with the recorder's office in the county where the property is. The office charges a fee for recording services.
• If the debt remains unpaid, the individual must file an enforcement action before the deadline. Once satisfied, the individual must file a lien release within ten days or otherwise face penalties.

Easements and Covenants

Colorado easements and covenants accompany deeds and other documents. An easement is a right-of-way or allowance for someone other than the owner to access or use the land. A good example is a telephone company that has poles on private land. Without asking, the company can enter the land anytime to maintain and repair its poles.

Covenants are rules about how you may use the land or buildings. You see these often with condo communities and gated developments. An example might be a home situated near a wildlife preserve. The state or county may place a covenant on it, preventing you from building and disturbing the wildlife.

Plats and Surveys

Both plats and surveys are types of maps. Plats show the boundaries of all neighboring properties, whereas surveys show only the boundaries of a single property. In Colorado, a survey costs between $226 and $851.

Basic information such as the following appears in a survey record in Colorado:

• Property Description - All survey documents often include a legal property description with lot and block numbers and subdivision details. It may also include the property's owner's name.
• Easements - Surveys must note easements on the property, such as access rights and utility lines. The section may also include encroachments of structures or improvements.
• Surveyor Certification - The surveyor must certify the document to make it credible and legal. The document will also include the date of the survey and a statement of certifications.
• Topographic Features - Some surveys contain topographic features such as contour lines and elevations in the land.
• Improvements and Structures - Some documents indicate the existence of structures within the location and their dimensions. They may also show improvements made to the property.

Property Descriptions and Boundaries in Colorado

One detail in property records that you may not be aware of is the property description. This essential piece of data includes landmarks, map coordinates, surveys, and a detailed description so anyone can easily identify the property. The legal property description can be found on deeds, maps, taxes, mortgages, liens, and other documents.

Surveys and land measurements are also critical details about a piece of property. Surveys help legally define property boundaries and are especially helpful in boundary disputes, new construction, utility placement, and other situations.

Boundary disputes erupt when one neighbor believes another is infringing on their property. These disputes frequently end up in court, with a judge deciding the outcome. The courts rely on professional surveyors to provide details that validate the legal boundaries of the property.

Foreclosures

Liens sometimes lead to foreclosure and auction sales. Foreclosures are another thing you will see in property records. Foreclosures can make it tricky to sell a property and complicate the closing. Any liens on the property must be paid off before it can be sold.

Although regular buyers may shy away from purchasing a house in foreclosure, investors often look for pre-foreclosure homes in Colorado to invest in. They can pick them up cheaply (usually far less than FMV) and sell them at a profit. Check realty sites and local government websites for listings of pre-foreclosure homes.