A Deed of Trust is an agreement among three parties: the Grantor (owner/borrower), the Beneficiary (lender), and the Public Trustee. When recorded, a Deed of Trust creates a lien against the Grantor's property.
When the terms of the Deed of Trust are satisfied, the lender must submit a request for Release of Deed of Trust to remove the lien from the property.
If the Deed of Trust does not name a County Public Trustee, then the holder of debt must file a Satisfaction of Mortgage with the County Clerk and Recorder.
Colorado Revised Statutes §38-39-102 set out certain requirements for releasing a Deed of Trust through the Office of the Public Trustee.