CO Code § 13-56-201 (2021)
2021 Colorado Code|Title 13 - Courts and Court Procedure|Article 56 - Levy and Sale - Real Estate|Part 2 - Sale of Lands|§ 13-56-201. Hours - Notice - Penalty - Irregularity

  No lands or tenements shall be sold by virtue of any execution unless such sale is at public venue and between the hours of nine in the morning and the setting of the sun on the same day nor unless the time and place of holding such sale has been previously advertised for the space of twenty days, by publishing notices of the time and place thereof in some daily or weekly newspaper printed and published in the county where such lands and tenements are situate or, if there is no such newspaper printed in the county, by posting such notices, printed or written, or partly printed and partly written, in three of the most public places in the county where the lands may be situated specifying the names of the plaintiff and defendant in the execution. In all such notices, the lands or tenements to be sold shall be described with reasonable certainty by setting forth their number or by some other appropriate description, and such notices shall comply with section 24-70-109, C.R.S.    If any sheriff or other officer sells any lands or tenements by virtue of any such execution, otherwise than in the manner aforesaid, or without such previous notice, the sheriff or other officer so offending shall forfeit and pay the sum of fifty dollars for every offense to be recovered, with costs of suit, in any court of record in this state by the person whose lands were advertised and sold. No such offense nor any irregularity on the part of the sheriff or other officer having the execution shall affect the validity of any sale made under it, unless it appears that the purchaser had notice of such irregularity.     History. Source: R.S. P. 372, § 11. G.L. § 1417. G.S. § 1849. R.S. 08: § 3641. C.L. § 5939. CSA: C. 93, § 47. CRS 53: § 77-6-1. C.R.S. 1963: § 77-6-1. L. 88: (1) amended, p. 977, § 2, effective May 6. History. Source: R.S. P. 372, § 11. G.L. § 1417. G.S. § 1849. R.S. 08: § 3641. C.L. § 5939. CSA: C. 93, § 47. CRS 53: § 77-6-1. C.R.S. 1963: § 77-6-1. L. 88: (1) amended, p. 977, § 2, effective May 6.    Cross references:   For sales on execution and lien foreclosures, see article 38 of title 38; for general requirements of publication, see § 24-70-106 .   ANNOTATION   Law reviews. For article, “Again -- How Many Times?”, see 21 Dicta 62 (1944). For article, “Executions and Levies on Tangible Property”, see 27 Dicta 143 (1950).   Generally a successful bid becomes a final and binding purchase. When a judgment creditor or other party makes a successful bid and purchases property at a sheriff's execution sale, it becomes a final and binding purchase subject to the statutory rights of redemption. If later it is discovered that the amount bid was in excess of the value, the judgment creditor or other party is nevertheless bound by his bid and a court in the exercise of its equity jurisdiction cannot on this ground alone set aside a sheriff's execution sale. If, in addition, however, the excessive bid was made because of the proven fraud and false representations of the judgment debtor, who would benefit by a high bid, then the court may have sufficient grounds to nullify the sheriff's sale. Cont'l Oil Co. v. Benham, 163 Colo. 255 , 430 P.2d 90 (1967).   Where no fraud exists, mistaken bid will not nullify sale. The property was adequately and fully described. Plaintiff mistakenly believed he was bidding on defendants' residence property, rather than on vacant land. No fraud is shown, and there exists no basis for nullifying the sheriff's execution sale. Cont'l Oil Co. v. Benham, 163 Colo. 255 , 430 P.2d 90 (1967).   So ordinarily, inadequacy of price paid is not sufficient cause for setting aside a judicial sale. Generally in addition, it must appear that there were such irregularities in connection with the sale, or such fraud practiced, as tended to prevent the property levied upon from being sold at a fairly adequate price. Cont'l Oil Co. v. Benham, 163 Colo. 255 , 430 P.2d 90 (1967).   The period of 20 days provided in this section applies to sales to enforce a mechanic's lien. Keystone Mining Co. v. Gallagher, 5 Colo. 23 (1879); San Juan, etc., Smelting Co. v. Finch, 6 Colo. 214 (1882).   The law does not recognize fractions of a day, and a notice published on February 16 was 20 days prior to the sale on March 8; and this section was observed. Leppel v. Kus, 38 Colo. 292 , 88 P. 448 (1906).   Applied in First Mtg. Sec. Co. v. Fader, 100 Colo. 22 , 64 P.2d 1278 (1937); Travelers Ins. Co. v. Janitell Farms, Inc., 44 Colo. App. 34, 609 P.2d 1116 (1980).