A Release of Deed of Trust is a written request by the mortgage company or lender, their agent or attorney or a title insurance company to the Weld County Public Trustee. The purpose of the release is to remove all or a portion of the property from the lien created by a Deed of Trust. A Deed of Trust is an agreement between three parties: the Grantor (owner/borrower), the Beneficiary (lender), and the Public Trustee. When recorded, a Deed of Trust creates a lien against the Grantor's property. When the terms of the Deed of Trust are satisfied, a request of Release of Deed of Trust must be recorded to remove the lien from the property. Requirements for a Release of Deed of Trust are described in C.R.S. 38-39-102* and must be precisely followed by the Public Trustee in the county in which the property is located and the lien that is to be released has been recorded.
A Release of Deed of Trust is signed and executed by the Current Owner of the Evidence of Debt (lender) when the note is paid in full and then submitted to the Public Trustee of the county where the property is located. The Public Trustee then compares the documents presented for accuracy, signs and executes the release form and then records the release with the Weld County Clerk and Recorder.
Colorado Revised Statute Section 38-39-102 has set out certain requirements for releasing a Deed of Trust through the Office of the Public Trustee in the county where the property is located. The following documents are to be presented in Weld County:
4. Payment of $43.00 to the Weld County Public Trustee, to execute and record a one page release form. Include $5.00 for any additional pages that may need to be recorded (i.e. separate legal descriptions, affidavits, etc.). 5. Enclose one large stamped, addressed envelope in which to return the cancelled note and Deed of Trust Without exemptions.
For inquiries on the status of any release, please contact the Weld County Clerk and Recorder's Office at (970) 304-6530, search records online, or contact your mortgage lender. The Public Trustee's Office processes thousands of releases each month and the time lapse between a homeowner's payoff and the release may be several months pursuant to Colorado Revised Statutes.
A warranty deed or quit claim deed is executed and recorded at the time of sale. Title to real estate is held subject to the Deed of Trust, which is released from the records when it is paid off. If the mortgage loan was assumed from another party, the previous owner's name(s) is listed on the original security instrument (a Deed of Trust or mortgage); therefore, the lien on record with the local recording jurisdiction is listed in their name(s). Since the release documents provided are to release the lien with the local jurisdiction, it is necessary to list the original borrower on the documents. Please be assured that recording these documents will release the lien from the property.
Our policy is to return the documents to the entity that submitted them to us unless otherwise instructed. If we mail your deed to the lender, it will be necessary for you to contact the lender to determine the location of the deed.
The Public Trustee's Office is funded by user fees that are set by the Colorado Revised Statutes.
The Public Trustee's Office has a process whereby Release of Deeds of Trust are reviewed, checked for accuracy, and executed (signed and notarized by the Public Trustee or Deputy Public Trustee). These releases are then sent to the Clerk and Recorder for recording. Recorded releases are mailed out by the Clerk & Recorder's Office.
The duties of the Public Trustee are set by Colorado Statutes. If the original promissory note has been lost, a Lost of Instrument Bond must be furnished as a replacement. The Public Trustee may accept a Release of Deed of Trust without production of the original note only when the owner of the evidence of debt meets the requirements of certain financial institutions as provided for by Colorado Revised Statutes.
Colorado Revised Statutes Section 38-35-124 states that the "creditor or holder of the indebtedness shall, within ninety days after satisfaction of the indebtedness and receipt from the debtor of reasonable cost of procuring and recording the release documents, file with the Public Trustee the documents required for a release as prescribed be Section 38-39-102". If your lender fails to comply with Colorado Law in this regard, please contact your legal advisor. This office does not have the authority to enforce this law.
The Public Trustee's Office receives many Releases of Deed of Trust daily. Our policy is to provide "walk ins" our immediate attention. All other requests are processed by the date they arrive in the mail. Due to the volume of releases received, there is not an efficient way to track each individual release.