h_fin_2016a_2016-02-03t13:33:36z1 Hearing Summary

Date: 02/03/2016

01:40 PM -- HB16-1090



Representative McCann introduced House Bill 16-1090. The bill limits the premium that a person may charge for offering assistance in recovering the balance of the purchase price of a foreclosed property after all liens and claims against the property have been satisfied. It also reduces the period during which the public trustee must hold these funds before transferring the funds to the Unclaimed Property Division of the State's Treasurer's Office from five years to two years. Representative McCann also distributed and discussed amendment L.001 (Attachment A).



16HouseFin0203AttachA.pdf



01:54 PM -- Ms. Debra Johnson, representing the Denver County Public Trustee, came to the table in support of the bill. She discussed how the bill benefits county public trustees and noted the means public trustees utilize to find persons with unclaimed property.



01:58 PM -- Ms. Brita Horn, representing the Routt County Public Trustee and the Public Trustee Association of Colorado, came to the table in support of the bill. She described several examples of county residents dealing with finder's fees.