§ 15-11-609 — Ademption by satisfaction

(1) Property a testator gave in his or
her lifetime to a person is treated as a satisfaction of a devise in whole or in part,
only if (i) the will provides for deduction of the gift, (ii) the testator declared in a
contemporaneous writing that the gift is in satisfaction of the devise or that its
value is to be deducted from the value of the devise, or (iii) the devisee
acknowledged in writing that the gift is in satisfaction of the devise or that its value
is to be deducted from the value of the devise.

(2) For purposes of partial satisfaction, property given during lifetime is
valued as of the time the devisee came into possession or enjoyment of the
property or at the testator's death, whichever occurs first.

(3) If the devisee fails to survive the testator, the gift is treated as a full or
partial satisfaction of the devise, as appropriate, in applying sections 15-11-603 and
15-11-604, unless the testator's contemporaneous writing provides otherwise.

Legislative History

Source: L. 94: Entire part R&RE, p. 1008, � 3, effective July 1, 1995.