Colorado Revised Statutes Title 38. Property Real and Personal § 38-41-207. Proceeds exempt--bona fide purchaser

(1) The following proceeds are exempt from execution or attachment for a period of three years after receipt if the person entitled to the exemption keeps the exempted proceeds separate and apart from other money so that the proceeds may be always identified:

(2) If the person receiving the proceeds uses the proceeds in the acquisition of other property for a home, the same homestead exemption to which the owner was entitled on the property sold carries over to the new property. The homestead exemption is not valid against a person entitled to a vendor's lien or the holder of a purchase money mortgage against the new property.