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Legal Definition
Foreclosure is the act of selling, by legal proceedings, real property to satisfy the obligations of the landowner to a third party. It is the procedure whereby property pledged as security, as a deed of trust, is sold to pay the debt in the event of default in payment.

The deed of trust is an agreement between three parties: the Grantor (owner), the Public Trustee (who has the power of sale) and the Beneficiary (lender).

The Public Trustee's Role

The Public Trustee, by law, serves as the neutral, intermediate party between the lender and the borrower to assure that each party can exercise its legal rights in a foreclosure action. The Public Trustee is not an attorney and cannot provide legal advice to any parties involved in the foreclosure action.

A foreclosure conducted by the Public Trustee's Office is authorized by a deed of trust containing a power of sale (right to sell property at public auction in the event of default). The procedure for conducting the foreclosure is set by Colorado Revised Statutes, Title 38, Article 37 and 38.

Contact Us
Cynthia Mares
Cynthia D. Mares

Public Trustee

1610 West Littleton Boulevard, 1st Floor
Littleton, CO 80120

Ph: 303-730-0071
Fx: 303-730-0076

Monday - Friday
8 a.m. - 4:30 p.m.