Silvernagel v. US Bank Nat’l Ass’n

Court of Appeals of Colorado, Division One

October 21, 2021, Announced

Court of Appeals No. 20CA1035

2021 Colo. App. LEXIS 1441 * | 2021 WL 4928387

Jerome D. Silvernagel and Dan Wu, Plaintiffs-Appellants, v. US Bank National Association, Defendant-Appellee.

Prior History:

 [*1] Douglas County District Court No. 19CV30565. Honorable David J. Stevens, Judge.






Core Terms

trust deed, statute of limitations, district court, foreclose, holder, promissory note, evidence of debt, accrues, personal liability, foreclosure, borrower’s, summary judgment, installment, monthly installments, limitations period, maturation, milestone, Mortgage, securing, becomes, default, lender


Case Summary



HOLDINGS: [1]-In a action for declaratory relief, the district court erred by dismissing the homeowners’ case against a bank because it rejected their claim that a foreclosure action would be barred by the statute of limitations set forth in Colo. Rev. Stat. 13-80-103.5(1)(a) (2020) without considering the effect the discharge of a debt in bankruptcy had on the time limit for the bank had to foreclose the deed of trust; [2]-The discharge in bankruptcy of a borrower’s personal liability on his loan — the cessation of his installment obligations — is the analog to a note’s maturation; no more payments could become due that would trigger a limitations period.



Reversed and remanded.



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HN1  Mortgages & Other Security Instruments, Definitions & Interpretation
No recordation takes place unless the trust deed is transferred to an entity that is not a member of Mortgage Electronic Registration Systems. More like this Headnote


HN2  Motions to Dismiss, Failure to State Claim
In resolving a Colo. R. Civ. P. 12(b)(5) motion to dismiss, a court may consider only the facts alleged in the complaint, documents attached as exhibits to or referenced in the complaint, and matters of which the court may take judicial notice, such as public records. More like this Headnote


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HN3  Entitlement as Matter of Law, Appropriateness
Summary judgment is appropriate if the pleadings and supporting documentation demonstrate that no genuine issue of material fact exists and that the moving party is entitled to summary judgment as a matter of law. Like a dismissal under