On July 1, 2020, the Treasurer will become the Public Trustee
Legislation passed in 2019 established that, as of July 1, 2020, the County Treasurer will be the Public Trustee for Boulder County. All work of the Public Trustee’s office will move into our offices at the Old County Courthouse in downtown Boulder.
What does the Public Trustee do?
Real estate loans in Colorado are typically secured with a deed of trust. The Public Trustee is listed on the deed and serves as a neutral third party until the loan is paid in full. When the loan is paid, the Public Trustee releases the deed of trust, conveying ownership of the property to borrower. If the borrower defaults on a provision of the deed of trust, the lender may choose to foreclose. The Public Trustee manages the foreclosure process, including protecting the rights of both the borrower and the lender, noticing the sale, holding the sale, processing redemptions, and issuing deeds to sale purchasers.
Our Transition Plan
The law requires that the Treasurer post our written transition plan for assuming the new duties of the office, describing the anticipated staffing needs and budget impacts on the office and specifying how the office will address those needs and impacts.