Colorado Code § 38-35-117

Mortgages, not a conveyance - lien theory. Mortgages, trust deeds, or other
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instruments intended to secure the payment of an obligation affecting title to or an interest in real
property shall not be deemed a conveyance, regardless of its terms, so as to enable the owner of
the obligation secured to recover possession of real property without foreclosure and sale, but the
same shall be deemed a lien.

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