Used TC purchase in Colorado?
Hi all... been lurking and reading everything I can on truck campers and about to pull the trigger on a lance 855s so thanks for all the info you have provided. I do have a question regarding pur...
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Check the Colorado Secretary of State UCC filings web page.
https://www.sos.state.co.us/ucc/pages/home.xhtml
When one obtains a secured loan on a vehicle (my credit union considers any RV a "vehicle") but it is not title-able - either there isn't a title for it or it is older than the states requirement for a title - the bank/lender files a "UCC Statement" with the states Secretary of State. This "statement" is in effect a "lien" on the vehicle and is only authorized to be released when the loan is satisfied and paid off. One thing the lender (in my case, anyway) didn't tell me was that this was not automatically done once my loan was paid. I had to send in proof that the loan was paid and the Secretary of State's form for release - oh, and the $25.00 fee of course - in order for the UCC filing to be released.
That is how it works in my home state and I found the above web address for Colorado and I believe it is the same or similar there.
Good luck on you new purchase!!!
https://www.sos.state.co.us/ucc/pages/home.xhtml
When one obtains a secured loan on a vehicle (my credit union considers any RV a "vehicle") but it is not title-able - either there isn't a title for it or it is older than the states requirement for a title - the bank/lender files a "UCC Statement" with the states Secretary of State. This "statement" is in effect a "lien" on the vehicle and is only authorized to be released when the loan is satisfied and paid off. One thing the lender (in my case, anyway) didn't tell me was that this was not automatically done once my loan was paid. I had to send in proof that the loan was paid and the Secretary of State's form for release - oh, and the $25.00 fee of course - in order for the UCC filing to be released.
That is how it works in my home state and I found the above web address for Colorado and I believe it is the same or similar there.
Good luck on you new purchase!!!
