SB 25-025

Senate Bill 25-025 changes Colorado law so that lenders can now file a vehicle mortgage in any county of their choice, not just the one where the borrower lives or the car is located. This means lenders have more flexibility when filing mortgages for cars and other vehicles. The bill has been signed into law, which means it will take effect soon and affect how vehicle mortgages are handled across the state.

Official Summary

The bill removes the requirement that a first or junior mortgage holder has to file a mortgage on a motor or off-highway vehicle in the county in which the mortgagor resides or the vehicle is located to have the existence of the mortgage and the fact of its filing noted in the vehicle's certificate of title, and instead allows the mortgage holder to file the mortgage in any county in the state.(Note: This summary applies to this bill as introduced.)