Bulletin UNCO-2021-001 – Statements of Authority

This bulletin is intended to notify agents of FNTI underwriting guidelines on the use of the Colorado statutory Statement of Authority on transactions where entities are selling, encumbering or purchasing real property.
A Statement of Authority created and executed pursuant to C.R.S. 38-30-172 may be relied upon in lieu of obtaining a copy of an entity’s governing document (trust agreement, operating agreement, partnership agreement, etc.) on transactions where an entity is selling, encumbering, or purchasing real property in Colorado. A sample Statement of Authority is attached for your reference. The entity itself does not have to be located or domiciled in Colorado. The Statement of Authority must be recorded with the other transaction documents. Rather than relying upon the information in a Statement of Authority that has been previously recorded, FNTI requires that a new Statement of Authority be executed and recorded on each new transaction.
The guidelines set forth above do not apply to transactions involving land trusts. If you have a transaction involving a land trust, please contact your FNTI underwriter.
FNTI is dedicated to providing excellent service to our agents. Should you have any questions regarding this bulletin, contact your friendly FNTI underwriter.