Skip to main content
Find a Lawyer

Colorado Revised Statutes Title 42. Vehicles and Traffic § 42-4-2108. Proceeds of sale

Current as of January 01, 2025 | Updated by Findlaw Staff

(1)(a) If the sale of any motor vehicle, personal property, and attached accessories or equipment under the provisions of section 42-4-2104 produces an amount less than or equal to the sum of all charges of the operator, then the operator has a valid claim against the owner for the full amount of the charges, less the amount received upon the sale of such motor vehicle. An operator does not have a valid claim if the operator has violated section 40-10.1-405.

(b) Failure to register a vehicle in accordance with this title 42 is deemed a waiver of the owner's right to be notified pursuant to this part 21. Charges specified in subsection (1)(a) of this section are assessed in accordance with subsection (2)(a) of this section.

(2) If the sale of any motor vehicle and its attached accessories or equipment under the provisions of section 42-4-2104 produces an amount greater than the sum of all charges of the operator who has perfected the operator's lien:

(a) The proceeds shall first satisfy the operator's reasonable costs and fees arising from the sale of the motor vehicle pursuant to section 42-4-2104 and the cost and fees of towing and storing the abandoned motor vehicle with a maximum charge that is specified in rules promulgated by the public utilities commission that govern nonconsensual tows by towing carriers.

(a.5) In the case of the sale of an abandoned motor vehicle described in section 42-4-2102(1)(d), any balance remaining after payment pursuant to paragraph (a) of this subsection (2) shall be paid to the law enforcement agency that is owed a fee for the court-ordered placement of an immobilization device on the motor vehicle pursuant to section 42-4-1105.

(b) Repealed by Laws 2022, Ch. 416 (H.B. 22-1314), § 6, eff. Aug. 10, 2022.

(c)(I) The operator shall pay any balance remaining after making the payment required in subsection (2)(a.5) of this section in accordance with the following:

(A) First, to any lienholder of record as the lienholder's interest may appear upon the records of the department;

(B) Second, to any owner of record as the owner's interest may so appear; and

(C) Third, to any person submitting proof of the person's interest in the motor vehicle upon the application of the lienholder, owner, or person.

(II) One hundred twenty days after the sale of the abandoned motor vehicle, the operator shall transfer the balance, after making the payment required under subsections (2)(a) to (2)(c)(I) of this section, to the state treasurer, who shall credit the same to the unclaimed property trust fund, created in section 38-13-801, and disposed of in accordance with article 13 of title 38.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Colorado Revised Statutes Title 42. Vehicles and Traffic § 42-4-2108. Proceeds of sale - last updated January 01, 2025 | https://codes.findlaw.com/co/title-42-vehicles-and-traffic/co-rev-st-sect-42-4-2108/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard