Colorado § 15-1.2-405 Rental property

Colorado Statutes

§ 15-1.2-405 — Rental property

Colorado § 15-1.2-405

Title 15Probate,

Art.Uniform Fiduciary Income and Principal Act

This text of Colorado § 15-1.2-405 (Rental property) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 15-1.2-405 (2026).

Text

(1)To the extent a fiduciary does not account for the management of rental property as a business under section 15-1.2-403, the fiduciary shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods:

(a)Must be added to principal and held subject to the terms of the lease, except as otherwise provided by law other than this article 1.2; and

(b)Is not allocated to income or available for distribution to a beneficiary until the fiduciary's contractual obligations have been satisfied with respect to that amount.

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(1) To the extent a fiduciary does not account
for the management of rental property as a business under section 15-1.2-403, the
fiduciary shall allocate to income an amount received as rent of real or personal
property, including an amount received for cancellation or renewal of a lease. An
amount received as a refundable deposit, including a security deposit or a deposit
that is to be applied as rent for future periods:

(a) Must be added to principal and held subject to the terms of the lease,
except as otherwise provided by law other than this article 1.2; and

(b) Is not allocated to income or available for distribution to a beneficiary
until the fiduciary's contractual obligations have been satisfied with respect to that
amount.