(1) The following proceeds are exempt from execution or attachment for a period of three years after receipt if the person entitled to the exemption keeps the exempted proceeds separate and apart from other money so that the proceeds may be always identified:
(a) The proceeds from the exempt amount under this part 2, in the event the property is sold by the owner;
(b) The proceeds from a sale of homestead property under section 38-41-206 paid to the owner of the property or person entitled to the homestead; or
(c) The proceeds from insurance covering destruction of homestead property held for use in restoring or replacing the homestead property, up to the amount specified in this section.
(2) If the person receiving the proceeds uses the proceeds in the acquisition of other property for a home, the same homestead exemption to which the owner was entitled on the property sold carries over to the new property. The homestead exemption is not valid against a person entitled to a vendor's lien or the holder of a purchase money mortgage against the new property.
Source: R.S. p. 386, § 64. G.L. § 1350. G.S. § 1638. R.S. 08: § 2957. C.L. § 5931. CSA: C. 93, § 29. L. 53: p. 413, § 5. CRS 53: § 77-3-7. C.R.S. 1963: § 77-3-7. L. 75: Entire section R&RE, p. 1446, § 4, effective July 14. L. 2007: Entire section amended, p. 879, § 8, effective May 14. L. 2022: Entire section amended, (SB 22-086), ch. 74, p. 376, § 5, 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.
Notes of Decisions
Cited in
14
cases (
1 in the last 5 years), 1982–2025 · leading case:
Fleet v. Zwick, 994 P.2d 480 (Colo. Ct. App. 1999).
Fleet v. Zwick, 994 P.2d 480 (Colo. Ct. App. 1999).
· cites it 5× “*482 Debtor claimed a homestead exemption pursuant to § 38-41-207, C.R.S.1999, which permits the debtor $30,000 in funds from a sale on execution free from creditors’ claims.”
Polimino v. Peters (In Re Polimino), 345 B.R. 708 (10th Cir. BAP 2006).
· cites it 5× “Debtors claim that the proceeds from the refinancing are exempt from execution or attachment for one year after the refinancing pursuant to Colo.Rev.Stat. § 38-41-207 (2000) and that the bankruptcy court erred when it refused to allow them to claim this exemption.”
Bargas v. Nye (In Re Nye), 210 B.R. 857 (D. Colo. 1997).
· cites it 4× “Colo.Rev.Stat. § 38-41-207. This statute allows for exemption of proceeds that would have received protection as a homestead.”
In Re Patterson, 275 B.R. 578 (Bankr.D. Colo. 2002).
· cites it 2× “On the other hand, Colo.Rev. Stat. § 38-41-207 (“Section 207”) expressly allows the exemption to attach to the non-commingled proceeds from the sale of the home for a period of one year after the sale.”
Gillespie v. Cherry Creek Nat'l Bank (In Re Gillespie), 41 B.R. 810 (Bankr.D. Colo. 1984).
· cites it 2× “Those proceeds are specifically exempt for one (1) year under § 38-41-207, C.R.S. There is no doubt that, except for the three deposits discussed, supra, the funds in the Debtor’s account were exempt under 42 U.”
In Re Parrish, 19 B.R. 331 (Bankr.D. Colo. 1982).
“S 13-54-102(p) -----------------------------------------------------|-------------------------------------------|---------------------------- Crime victims reparation law awards | 100% | CRS 13-54-102(q)…”
In Re Greene, 451 B.R. 331 (Bankr. D. Vt. 2011).
“See Colo.Rev.Stat. § 38-41-207 (2007) (identifying proceeds from the sale of the homestead as exempt for a period of two years); Tex.”
In Re Blair, 125 B.R. 303 (Bankr. D.N.M. 1991).
“Colo.Rev.Stat. § 38-41-207 (West 1982) (within one year); Ill.”
Tiffany Panitzke (Bankr.D. Colo. 2025).
· cites it 7× “He also claimed a Colorado exemption of $75,000 in the Proceeds, under Colo. Rev. Stat. § 38-41-207 . Trustee timely filed his Objection, asserting Debtor was not entitled to claim Colorado exemptions because he was not a Colorado resident on his petition date.”
In Re Elliot, 448 B.R. 843 (Bankr.D. Colo. 2011).
· cites it 7× “C.R.S. § 38-41-207. This contested matter presents a question of first impression: does the Colorado homestead proceeds exemption cover surplus proceeds paid to a debtor following a non-judicial public trustee sale? The dispute before the Court concerns a Chapter 7 debtor’s…”
In re Bloedon, 137 B.R. 824 (D. Colo. 1992).
· cites it 8× “*825 In addition, C.R.S. § 38-41-207, provides as follows: The proceeds from the exempt amount under this part 2, in the event the property is sold by the owner .”
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