OFFICE OF THE CLERK AND RECORDER PUBLIC TRUSTEE DIVISION

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1 OFFICE OF THE CLERK AND RECORDER PUBLIC TRUSTEE DIVISION Sindee Wagner, Chief Deputy Public Trustee Debra Johnson Clerk and Recorder Public Trustee Post-Auction, Foreclosed-Upon Homeowners May Be Owed Money!!! PLEASE NOTE: PROPERTY OWNERS OF RECORD DO NOT NEED TO PAY A FEE TO THE PUBLIC TRUSTEE OR ANY THIRD PARTY TO COLLECT EXCESS FUNDS! If a house was sold to a third-party investor at The Denver Public Trustee s auction, it is possible that the winning bid was for more than what the homeowner owed. This is called an overbid which results in excess funds. Colorado revised statute ( ), states that excess funds must be distributed in the following order: 1. First, to the foreclosing lender, usually a bank, to satisfy any outstanding debt (AKA as a deficiency ), in the case where the lender s initial bid at auction was for less than the total due. 2. Second, to any junior lien-holder who, on filing a valid Intent to Redeem within eight business days post-sale, decides not to act on his prerogative to buy the property outright, choosing instead to have his lien satisfied with excess funds. 3. Finally, to the foreclosed-upon homeowner. If claims for #1 (lender) and #2 (junior lien-holders) have been met, and there are remaining excess funds, the property owner(s) of record will be notified by our office about the availability of these proceeds. Letters are sent to all known addresses for the property owner per the foreclosure file. In addition, The Denver Public Trustee accesses social media websites and voter registration address changes in order to attempt to contact the homeowner to make them aware that money is due them. Statutorily, our office is also required to publish a notice of overbid funds in a newspaper of general circulation. You may also check for yourself to see if there are overbid funds due you on our Unclaimed Excess Funds list which is updated at the end of every month. The list is available on The Denver Public Trustee s website To see if your name appears on the list, just follow these steps: Go to Click on Foreclosure & Auction Information box in the left center side of the screen. Click on Auction Information box in the middle of the screen. Click on bottom blue bar in the middle of the screen labeled Current List of Unclaimed Excess Funds.

2 MAKING A CLAIM There is an Excess funds Claim Form attached to the bottom of these instructions which you must print and complete in order to submit a claim to either the mailing address or address listed on the form. Proof of prior ownership of the foreclosed property, (such as a Deed of Trust), as well as current government-issued identification (such as a Driver s License) are required and copies of these must be included in order for your claim to be reviewed. Depending on circumstances and documents received, the claim process and issuance of a check can take 7-10 business days. WHAT IF EXCESS FUNDS ARE NEVER CLAIMED? Unclaimed excess funds are non-interest bearing and are held in an account under The Manager of Finance within The City and County of Denver for a period of five (5) years from the sale date of the property. In the event that the proceeds are not claimed within five (5) years, the excess funds are turned over to The Great Colorado Payback for distribution. Excess funds always belong to their owner even if they are never claimed. Through The Great Colorado Payback, all unclaimed property is held in trust until the rightful owner(s) or their heirs claim it. For more information, please call (720)

3 OFFICE OF THE CLERK AND RECORDER PUBLIC TRUSTEE DIVISION Sindee Wagner, Chief Deputy Public Trustee EXCESS FUNDS CLAIM FORM Debra Johnson Clerk and Recorder Public Trustee Homeowner(s) of record DO NOT need to pay a fee to the Denver Public Trustee or any third party to collect excess funds. Public Trustee File Number (if known): Property Address: Claimant s Information (print clearly): Date: Self Relative OR Personal Representative for Claimant s Name: Address: Phone: If Collecting funds via: Attorney 3 rd Party Other Company Name: Representative s Name: Address: Phone: TO CLAIM FUNDS: Submit this claim form AND the documents listed below to our office, located at 201 West Colfax Avenue, Dept. 101, Denver, CO 80202, Monday-Friday, 8:00 AM to 4:30 PM. 3

4 Documents needed to collect the funds in person: Valid state-issued driver s license or state-issued photo ID to be verified by the Public Trustee s office AND ONE OR MORE OF THE FOLLOWING IN THE BOX BELOW Documents needed if a Homeowner(s) is out-of-state: Notarized copy of valid state-issued driver s license or state-issued photo ID including the claimant s signature AND Pre-paid and pre-filled-out shipping label (including account number if FedEx, UPS, etc.) to send check, track delivery and receive signature upon receipt (no PO Boxes) AND ONE OR MORE OF THE FOLLOWING IN THE BOX BELOW Excess Funds Letter received from the Denver Public Trustee Old Utility Bill Original Deed of Trust Mortgage Documents Old Bank Statement Documents needed if a Homeowner(s) is deceased: CERTIFIED copy of death certificate(s) from Vital Statistics AND Letters of Testamentary or Letters of Administration issued by a probate court to show appointment as Personal Representative or Successor Personal Representative AND Notarized copy of valid state-issued driver s license or state-issued photo ID including the claimant s signature Documents needed if a Homeowner(s) is divorced: In the event of a divorce, both parties must submit a claim form and appear in person together to collect the funds, unless the Public Trustee is supplied with a divorce decree or court order that shows how the funds should be distributed. The documents needed are the same as noted above whether collecting funds in person or if the claimant is located out-of-state. Documents needed if a Homeowner(s) is collecting funds via a third party or Finder service: What is a Finder? A finder is someone who may contact you offering to locate your lost or forgotten property for a fee. BEFORE YOU SIGN ANYTHING OR PAY A FEE, check with the Denver Public Trustee s Office to see if your name appears on the Unclaimed Excess Funds list. You may alternatively visit the Denver Public Trustee s website ( and search for yourself by clicking through Foreclosure & Auction Information to Unclaimed Excess Funds. If a third party is acting on behalf of an individual Documents listed above respectfully are needed AND A notarized copy of power of attorney authorizing a party to act on behalf of claiming party, including instructions on how and by whom the funds can be collected. Notarized copy of valid state-issued driver s license or state-issued photo ID including the third party s signature If the collection of the funds is assisted by an attorney, the transfer of funds electronically to a COLTAF (Colorado Lawyer Trust Account Foundation) account is available with banking information provided 4

5 * ALL checks will be made payable in full to the property owner(s) of record and cannot be split or made payable to anyone else, unless ordered by the court. ** If more than one person is listed on the Notice of Election and Demand, all parties must submit the necessary documents and be present to collect the funds. The Denver Public Trustee will not accept faxed forms or documents. All documentation can be presented in person to our office at 201 West Colfax Avenue, Dept. 101, Denver, CO or ed to The claim process and issuance of excess funds is estimated to take 7-10 days. Please note this estimate can be increased based on circumstances and the documents received. If there are any additional questions, please contact the Denver Public Trustee at or by at 5

Foreclosures: Everything You Wanted to Know but Was Afraid to Ask. 1. Lawsuit with Judge or Jury 2. Remedy for Defaults on Mortgages

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