A Release of Deed of Trust is a written request by the mortgage company, a financial institution or a private lender, their agent or attorney, or a title insurance company to the Public Trustee. The purpose of the release is to remove all or a portion of the property from the lien created by a Deed of Trust.
A Deed of Trust is a three party instrument used to create voluntary liens in real estate. The parties to a Deed of Trust are the Grantor, who is the property owner, the Beneficiary, who is the lender and the Public Trustee, who holds certain powers of foreclosure and release.
A recorded (by the County Clerk and Recorder) Deed of Trust is a legal record of the lien against the owner’s property. When recorded a Deed of Trust creates a lien against the Grantor’s property. When the terms of the Deed of Trust are satisfied, a request of Release of Deed of Trust must be recorded to remove the lien from the property.
Requirements for a Release of Deed of Trust are described in C.R.S. 38-39-102, and must be precisely followed by the Public Trustee in the county in which the property is located.
How To Obtain a Release of Deed of Trust
When the terms of the Deed of Trust have been satisfied (including payment in full of the promissory note), a request by the lender must be submitted to the Public Trustee to release the Deed of Trust who, upon review and satisfaction that the Deed of Trust can be released, signs the release form and submits it to the Clerk and Recorder for recording of the release.
Requirements to Release a Deed of Trust
Colorado Revised Statute Section 38-39-102 has set out certain requirements for releasing a Deed of Trust through the Office of the Public Trustee in the county where the property is located. The following documents are to be presented in Douglas County:
- Original Promissory Note that corresponds with the Deed of Trust, including the principal amount, dates and the number of notes/deeds of trusts involved: Marked Paid in Full.
- A lender must submit the original promissory note if the lender is a private person or company (not a federally or state chartered financial institution). If the original promissory note has been lost, a Lost Instrument bond must be furnished in an amount one and a half times the original amount of the Deed of Trust, see C.R.S. 38-39-102. A federally or state chartered financial institution does not have to provide the promissory note. A title Insurance company may also submit a release
- Recorded Deed of Trust, can be the original or a copy. The Clerk and Recorder’s original recording information must be legible. You may obtain a copy from the Douglas County Clerk and Recorder’s Office at 301 Wilcox Street, Castle Rock, Colorado, 303.660.7446.
- Request for Release of Deed of Trust form may be obtained by clicking here.
- The release form must have the following:
- Correct name of Borrower
- Correct name of the owner of the Evidence of Debt (Lender)
- Exact corresponding information on the Deed of Trust and Note
- Recording information of Deed of Trust
- Notarized Signature/Signatures of Lender/Lenders
- Address to where the recorded release is to be sent (this form will be returned by the Douglas County Clerk and Recorder)
- The current address of the borrower (grantor), if known.
- Payment of $26.00 to the Public Trustee of Douglas County, to execute and record a one page release form. Include $5.00 for any additional pages that may need to be recorded (i.e. separate legal descriptions, affidavits, etc.).
- If submitting a release by mail, enclose two (2) stamped, addressed Envelopes in which to return the cancelled note and Deed of Trust in one and the recorded release in the other.