(1) Every homestead in the state is exempt from execution and attachment arising from any debt, contract, or civil obligation not exceeding in actual cash value in excess of any liens or encumbrances on the homesteaded property in existence at the time of any levy of execution thereon:
(a) The sum of two hundred fifty thousand dollars if the homestead is occupied as a home by an owner or an owner's family; or
(b) The sum of three hundred fifty thousand dollars if the homestead is occupied as a home by an owner who is elderly or disabled, an owner's spouse who is elderly or disabled, or an owner's dependent who is elderly or disabled.
(2) As used in this section, unless the context otherwise requires:
(a) Disabled means having a physical or mental impairment that is disabling and that, because of other factors such as age, training, experience, or social setting, substantially precludes the person from engaging in a useful occupation as a homemaker, a wage earner, or a self-employed person in any employment that exists in the community and for which the person has competence.
(b) Elderly means sixty years of age or older.
Source: R.S. p. 385, � 57. G.L. � 1343. G.S. � 1631. R.S. 08: � 2950. C.L. � 5924. CSA: C. 93, � 23. L. 51: p. 522, � 1. CRS 53: � 77-3-1. C.R.S. 1963: � 77-3-1. L. 73: p. 916, � 2. L. 75: Entire section R&RE, p. 1444, � 1, effective July 14. L. 81: Entire section amended, p. 1828, � 1, effective May 21. L. 91: Entire section amended, p. 384, � 6, effective May 1. L. 2000: Entire section amended, p. 717, � 3, effective May 23. L. 2007: Entire section amended, p. 879, � 7, effective May 14. L. 2015: (1) amended, (SB 15-283), ch. 301, p. 1241, � 6, effective July 1. L. 2022: Entire section amended, (SB 22-086), ch. 74, p. 375, � 2, effective April 7.
Cross references: (1) For the legislative declaration in the 2007 act amending this section, see section 1 of chapter 226, Session Laws of Colorado 2007.
(2) For the legislative declaration in SB 22-086, see section 1 of chapter 74, Session Laws of Colorado 2022.
38-41-201.5. Legislative declaration of homestead exemption for mobile homes. The general assembly hereby finds and declares that, as the cost of conventional housing continues to escalate, mobile homes will become an ever larger percentage of the total housing supply, particularly for the elderly and the low-to-moderate income groups; that the purchase of a mobile home is a major investment; that most mobile homes are permanently or semipermanently located; that great improvements have been made in the quality and variety of such homes; and that mobile homes are dwellings which should be accorded a status equivalent to conventional homes. The general assembly recognizes, however, that mobile homes are more readily moved than conventional homes; that they are presently bought and sold as personal property and that there are advantages to both the industry and consumers to continue this practice; and that they presently have a dual nature in the area of taxation and tax collection; therefore mobile homes should be entitled to a homestead exemption.
Source: L. 82: Entire section added, p. 544, � 1, effective January 1, 1983.
38-41-201.6. Mobile home, manufactured home, trailer, and trailer coach homestead exemption. (1) A manufactured home as defined in section 38-29-102 (6) that includes a mobile home or manufactured home as defined in section 38-12-201.5 (5), 5-1-301 (29), or 42-1-102 (48.8), that has been purchased by an initial user or subsequent user, and for which a certificate of title or registration has been issued in accordance with section 38-29-110 or pursuant to section 38-29-108, is a homestead and is entitled to the same exemption as enumerated in section 38-41-201, except for any loans, debts, or obligations incurred prior to January 1, 1983. For purposes of this homestead exemption, the term house as used in section 38-41-205 is deemed to include mobile homes or manufactured homes.
(2) A trailer as defined in section 42-1-102 (105), C.R.S., or a trailer coach as defined in section 42-1-102 (106), C.R.S., that has been purchased by an initial user or subsequent user and for which a certificate of title or registration has been issued pursuant to section 42-3-103, C.R.S., is a homestead and is entitled to the same exemption as enumerated in section 38-41-201, except for any loans, debts, or obligations incurred prior to July 1, 2000. For purposes of this homestead exemption, the term house as used in section 38-41-205 shall be deemed to include trailers or trailer coaches.
Source: L. 82: Entire section added, p. 544, � 1, effective January 1, 1983. L. 83: Entire section amended, p. 1462, � 2, effective June 15. L. 94: Entire section amended, p. 707, � 14, effective April 19; entire section amended, p. 2567, � 85, effective January 1, 1995. L. 2000: Entire section amended, p. 717, � 4, effective May 23. L. 2001: (1) amended, p. 1279, � 53, effective June 5. L. 2020: (1) amended, (HB 20-1196), ch. 195, p. 928, � 22, effective June 30. L. 2022: Entire section amended, (SB 22-212), ch. 421, p. 2985, � 85, effective August 10.
Editor's note: Amendments to this section by SB 94-092 and SB 94-001 were harmonized.