CO Code § 42-4-2108 (2021)
2021 Colorado Code|Title 42 - Vehicles and Traffic|Article 4 - Regulation of Vehicles and Traffic|Part 21 - Vehicles Abandoned on Private Property|§ 42-4-2108. Proceeds of Sale

  If the sale of any motor vehicle, personal property, and attached accessories or equipment under the provisions of section 42-4-2104 produces an amount less than or equal to the sum of all charges of the operator who has perfected his or her lien, then the operator shall have a valid claim against the owner for the full amount of such charges, less the amount received upon the sale of such motor vehicle. Failure to register such vehicle in accordance with this title shall constitute a waiver of such owner's right to be notified pursuant to this part 21 for the purposes of foreclosure of the lien pursuant to section 42-4-2107. Such charges shall be assessed in the manner provided for in paragraph (a) of subsection (2) of this section.    If the sale of any motor vehicle and its attached accessories or equipment under the provisions of section 42-4-2104 produces an amount greater than the sum of all charges of the operator who has perfected his or her lien:   The proceeds shall first satisfy the operator's reasonable costs and fees arising from the sale of the motor vehicle pursuant to section 42-4-2104 and the cost and fees of towing and storing the abandoned motor vehicle with a maximum charge that is specified in rules promulgated by the public utilities commission that govern nonconsensual tows by towing carriers.  (a.5) In the case of the sale of an abandoned motor vehicle described in section 42-4-2102 (1)(d) , any balance remaining after payment pursuant to paragraph (a) of this subsection (2) shall be paid to the law enforcement agency that is owed a fee for the court-ordered placement of an immobilization device on the motor vehicle pursuant to section 42-4-1105 .     Any balance remaining after payment pursuant to paragraphs (a) and (a.5) of this subsection (2) shall be forwarded to the department, and the department may recover from such balance any taxes, fees, and penalties due to it with respect to such motor vehicle. The department shall provide a receipt to the operator within seven days after receiving the money if the operator provides the department with a postage-paid, self-addressed envelope.    Any balance remaining after payment pursuant to paragraph (b) of this subsection (2) shall be paid by the department: First, to any lienholder of record as the lienholder's interest may appear upon the records of the department; second, to any owner of record as the owner's interest may so appear; and then to any person submitting proof of such person's interest in such motor vehicle upon the application of such lienholder, owner, or person. If such payments are not requested and made within one hundred twenty days after the sale of the abandoned motor vehicle, the balance shall be transmitted to the state treasurer, who shall credit the same to the highway users tax fund for allocation and expenditure as specified in section 43-4-205 (5.5)(e), C.R.S.        History. Source: L. 2002: Entire part added with relocated provisions, p. 483, § 2, effective July 1. L. 2005: (2)(c) amended, p. 150, § 29, effective April 5. L. 2006: (2)(a.5) added and (2)(b) amended, p. 172, § 5, effective July 1. L. 2009: (2)(b) amended, (HB 09-1279), ch. 170, p. 769, § 12, effective August 5.