Colorado Revised Statutes Title 42. Vehicles and Traffic § 42-6-135. Lost certificates of title

(3)(a) Upon the issuance of a copy of the recorded certificate of title as provided for in this section, the director or the authorized agent shall note on the copy every mortgage shown to be unreleased and the lien that is in effect as disclosed by the records of the director or authorized agent and shall dispose of such certificate as in other cases.

(b) Upon the payment or discharge of the debt secured by a mortgage on a motor vehicle that has been filed for record in the manner prescribed in section 42-6-121, the lienholder shall notify the authorized agent of the satisfaction and release of the mortgage, setting forth any facts concerning the right of the holder to release the mortgage as the director may require. The satisfaction and release shall be affirmed by a statement signed by the lienholder noted in the certificate of title and shall contain or be accompanied by a written declaration that it is made under the penalties of perjury in the second degree, as defined in section 18-8-503, C.R.S. Upon receiving a valid satisfaction and release, the director or authorized agent shall note the release of the lien and shall issue a certificate of title for the motor vehicle, omitting all reference to the mortgage.