Legal Question in Real Estate Law in Colorado
Payoff demand
I hold a lien against a person's property. They are refinancing and want me to send a Payoff Demand. What is this and what is it used for.
Thank you
Asked on 3/02/02, 9:35 pm
1 Answer from Attorneys
Eric Fisher
Law Office of Eric A. Fisher. LLC
Re: Payoff demand
The payoff demand is the total amount you need to be paid to release the lien.
This should include the principal amount, plus interest and your costs.
Answered on 3/04/02, 12:00 pm