A Release of Deed of Trust is a written request by the holder of the evidence of debt (the lender), 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 an agreement between three parties: the Grantor (owner/borrower), the Beneficiary (lender), and the Public Trustee. 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.
How To Release a Deed of Trust
A Release of Deed of Trust is signed and executed by the Current Owner of the Evidence of Debt (Lender), or a Title Company, and submitted to the Public Trustee of the county where the property is located. The Public Trustee inspects the documents presented for accuracy and completeness, signs and executes the release form and records the release with the County Clerk and Recorder.
Requirements to Release a Deed of Trust
Colorado Revised Statute §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 Lake County:
Original Evidence of Debt that corresponds to the Deed of Trust, including the principal amount, dates and the number of notes/deeds of trusts involved. In lieu of the original evidence of debt, a qualified holder as defined in C.R.S. §38-38-100.3 or a title company may request the release without production of the original evidence of debt. A private party lender who does not have the original evidence of debt must submit a Lost Instrument Bond in the amount of 1.5 times the original principal balance.
Recorded Deed of Trust, can be the original or a copy; it must include the parties, the grant to the Public Trustee, and the legal description of the property.. The Clerk and Recorder’s stamp must be on the document and legible. You may obtain a copy from the Lake County Clerk and Recorder’s Office at 505 Harrison Avenue Leadville, CO, 719-486-1410.
Request for Release of Deed of Trust form ** Must be on Legal Paper 8.5" x 14"
The release form must have the following:
Correct name of Borrower/Grantor
Correct name of the original Beneficiary/Lender
Correct name of the current holder of the Evidence of Debt (or a Title Company)
Reception number of the Deed of Trust
Notarized Signature/Signatures of the Holder(s) of the note or Title Company, or of agent for holder (must send copy of POA for agent)
Payment of $28.00 to the Lake County Public Trustee to execute and record a one page release form. Include an additional $5.00 for each additional page that may need to be recorded (i.e. separate legal descriptions, affidavits, etc.).
Please also enclose one large stamped, addressed envelope in which to return the original note and Deed of Trust.
Inquiries About Status of Releases
For inquiries on the status of any release, please contact the Lake County Clerk and Recorder's Office at 719-486-1410 or contact your mortgage lender. The Public Trustee's office processes hundreds of releases each month and the time lapse between a homeowner's payoff and the release may be several months pursuant to Colorado Revised Statutes. Because of the large volume of releases received each day, there is no way for us to determine if your release documents have been received on any given day. We generally process a release within a day or two of receipt.
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