CO SB030

Defines "overbid" as the amount a property sells for above the lender's written bid amount, and requires overbids of $25 or more unclaimed for five years to be treated as abandoned property under the Unclaimed Property Act.

Modifies foreclosure procedures by requiring holders to identify loan servicers, specifying cure statement formatting requirements, and establishing strict deadlines (by 12 noon) for submitting cure statements and bids to public trustees.

Requires public trustees to notify property owners of remaining overbids within 30 days after redemption periods expire and makes efforts to identify current owner addresses for overbids of $25 or more.

Clarifies procedures for handling unclaimed overbids, establishing separate rules for sales before and after September 1, 2012, with amounts under $25 going to county general funds and amounts of $25 or more transferred to the state treasurer under the Unclaimed Property Act.

Restricts confirmation deeds from naming assignees unless assignment documentation is received within ten business days after title vests and was properly dated, signed, and notarized before title vesting.