Colorado statute

C.R.S. § 18-5-803 — Equity skimming of a vehicle.

Current through 2025 Regular Session

Part of Part 8: EQUITY SKIMMING AND RELATED OFFENSES, Colorado Revised Statutes.

Criminal charges under this statute

Equity skimming of a vehicle

Full text of C.R.S. § 18-5-803

Statutory text current through the 2025 Regular Session. This is an officially sanctioned publication using the official text of the Colorado Revised Statutes; it is not the official statutes of the State of Colorado.

C.R.S. § 18-5-803Primary source, current through the 2025 Regular Session

(1) A person commits equity skimming of a vehicle if, knowing the vehicle is subject to a security interest, lien, or lease, he accepts possession of or exercises any control over the vehicle in exchange for consideration given which may be verbal assurance or otherwise, and: (a) Obtains or exercises control over the vehicle of another and then sells or leases the vehicle to a third party without first obtaining written authorization from the secured creditor, lessor, or lienholder for the transaction of the sale or lease to the third party, unless the entire balance of the security interest, lien, or lease is paid or satisfied within thirty days of said transaction; or (b) Arranges the sale or lease of the vehicle of another to a third party without first obtaining written authorization from the secured creditor, lessor, or lienholder for the transaction of the sale or lease to the third party and exercises control over any part of the funds received, unless the entire balance of the security interest, lien, or lease is paid or satisfied within thirty days of said transaction; or (c) Knowingly fails to ascertain on a monthly basis whether payments are due to the secured creditor, lienholder, or lessor and to apply all funds he receives for any lease or sale of the vehicle toward the satisfaction of any outstanding payment due to the secured creditor, lienholder, or lessor in a timely manner. (2) Equity skimming of a vehicle is: (a) A petty offense if the amount is less than three hundred dollars; (b) A class 2 misdemeanor if the amount is three hundred dollars or more but less than one thousand dollars; (c) A class 1 misdemeanor if the amount is one thousand dollars or more but less than two thousand dollars; (d) A class 6 felony if the amount is two thousand dollars or more but less than five thousand dollars; (e) A class 5 felony if the amount is five thousand dollars or more but less than twenty thousand dollars; (f) A class 4 felony if the amount is twenty thousand dollars or more but less than one hundred thousand dollars; (g) A class 3 felony if the amount is one hundred thousand dollars or more but less than one million dollars; and (h) A class 2 felony if the amount is one million dollars or more.

Official sources

Legal terms used in this section

Questions this section answers

Is equity skimming of a vehicle a felony or a misdemeanor in Colorado?

It depends on the circumstances: equity skimming of a vehicle ranges from a petty offense to a class 2 felony in Colorado under C.R.S. § 18-5-803.

Equity skimming (< $300): petty offense (C.R.S. § 18-5-803(2)(a)) · Equity skimming ($300–$1,000): class 2 misdemeanor (C.R.S. § 18-5-803(2)(b)) · Equity skimming ($1,000–$2,000): class 1 misdemeanor (C.R.S. § 18-5-803(2)(c)) · Equity skimming ($2,000–$5,000): class 6 felony (C.R.S. § 18-5-803(2)(d)) · Equity skimming ($5,000–$20,000): class 5 felony (C.R.S. § 18-5-803(2)(e)) · Equity skimming ($20,000–$100,000): class 4 felony (C.R.S. § 18-5-803(2)(f)) · Equity skimming ($100,000–$1,000,000): class 3 felony (C.R.S. § 18-5-803(2)(g)) · Equity skimming (≥ $1,000,000): class 2 felony (C.R.S. § 18-5-803(2)(h))

Which Colorado statute covers equity skimming of a vehicle?

Equity skimming of a vehicle is governed by C.R.S. § 18-5-803 (Equity skimming of a vehicle).

This reference is informational and is not legal advice.