Here are some questions that we are frequently asked. It will give you an opportunity to have some knowledge of what we are looking at, and for when we are searching title to a piece of property and how our title insurance "requirements" are established. If you have questions or comments on the information provided, please feel free to call us at 970-874-4785.
The answers given to the questions on this site are NOT to be construed as legal advice or instructions for completing transactions. The information is provided as a basic outline from a title insurance agent's point of view.
Q: I sold my house December 27, 2019, I just received a tax bill on that property. Is it my responsibility to pay it?
A: On your settlement statement there is normally a charge to you for your portion of the year's taxes that you owned the property. A credit is normally given to the purchaser and the purchaser is then responsible for the total tax bill for the year of the sale.
Q: I bought a house on December 28, 2019. It is the end of January and I have not received a tax bill on the property. I did receive a credit from the seller for the portion of the year that he owned the property and was told that I was responsible to pay the bill, but since I have not received one does this mean the taxes are already paid?
A: No. You need to contact the Delta County Treasurer and or Assessor to see the status of the real estate taxes and where the bill was sent. They can duplicate the bill and send you a copy so that you can make sure your taxes remain current. You can, of course, also call the closing office and request their assistance in getting the information.
Q: My accountant said he needs documents from my closing to prepare my tax returns. What documents does he need?
A: Normally the settlement statement or HUD-1 are the documents required by your accountant to complete your tax returns. He may also need the Warranty Deed and/or the Real Property Transfer Declaration.
Q: What County office is responsible for collecting real estate taxes?
A: The Delta County Treasurer's office (970-874-2135) is responsible for collecting the taxes. The Delta County Assessors office (970-874-2120) is responsible for assessing the taxes.
Q: I do not reside in Colorado but am selling my property in Colorado for $99,999.99. Is there anything I need to be aware of
A: The Colorado Department of Revenue requires the closing agent to withhold 2% of the sales price of any property selling for $100,000.00 or more. There are forms which must be signed and delivered to the State in connection with any seller who is not a resident. In some cases the seller can verify that they are not subject to the 2% withholding on the sale of property over $100,000.00. If the sale is under $100,000.00 there is no withholding required.
Q: I am the recipient of a beneficiaries deed. Is there anything I need to know or do?
A: There must be no interests of other parties in the property filed within the four months subsequent to the death of the grantor on the beneficiaries deed or the validity may be affected. It is a good idea to record the Death Certificate of the Grantor(s) of the beneficiaries deed.
An affidavit may be requested stating that there has been no revocation of the deed or any other parties interests filed against the property.
PURGING A MOBILE HOME
Q: I want to make my manufactured/mobile home a part of my real estate so that I only receive one tax bill each year. My lender has also requested that I purge the title before they will refinance my manufactured/mobile home. Where do I start?
A: To purge a Manufactured or Mobile Home to the real estate where it is located, you will need the original title. There are also a few forms that must be filled out and submitted to the County Clerk and recorder recording/motor vehicle department and then forwarded to the state. The state will process the request and once they have accepted the documentation, they will issue a letter stating that the title has been purged. In subsequent tax years you will no longer receive a separate tax bill from the County Treausurer for the manufactured/mobile home and the manufactured/mobile home information will appear on the tax bill with the real estate information. It may take a little more than one year for the purge to show up as merged on your real estate tax billings so be sure to pay both bills until you verify that the manufactured/mobile home taxes are included on your real estate bill.
UNPURGING A MOBILE HOME
Q: I had to purge the title to my mobile home when I borrowed money against my property. Now I have purchased a new lot and want to move my mobile home to that lot. How do I get a new title so that I can move the home and receive a separate tax notice on it?
A: You will need to contact the Delta County Treasurer's Office 970-874-2135, or visit their website and look under purged mobile home information.
PLEASE CALL US WITH ADDITIONAL QUESTIONS THAT WE CAN POST ON OUR SITE TO HELP OTHER PEOPLE ANSWER SOME OF THE BASIC QUESTIONS ON REAL PROPERTY IN DELTA COUNTY.
TRANSFERRING A MOBILE HOME
The Delta County Clerk and Recorders site has checklists and instructions as well as links to the necessary forms to complete the transfer of a mobile home. It is important to have the correct documentation before you arrive at the clerk's office to make the transfer.
Go to deltacounty.com, click on manufactured housing found on the left sidebar, pick your scenario and follow the instructions found there. Or give us a call and we'll help you through the process.
This process can take two weeks or more as the documentation must be sent to the State of Colorado for processing as well as Delta County.
TRANSFERRING MY PROPERTY FROM INDIVIDUAL NAMES TO MY/OUR TRUST.
Q: I/We have set up a new trust and want to transfer our property into that trust. How do we go about that?
A: Normally the attorney who assisted you in setting up your trust will prepare the necessary documentation as a part of the process. If not you will need to record in the real estate records the Statement of Authority for the Trust according to the requirements of the Colorado Revised Statutes and you will need to record a deed or other acceptable transfer document(s) from the current title holders, into the trust. Some lenders will not lend to a trust, so if you are planning on refinancing you will want to consider options and consequences of when you transfer the property into the trust.