§ 15-12-807 — Payment of claims

Colorado § 15-12-807

• Jurisdiction: Colorado
• Title 15: Probate,
• Art.: Probate of Wills and Administration

Text

(1) One year after the decedent's death, the
personal representative shall proceed to pay the claims allowed against the estate
in the order of priority prescribed, after making provision for family and exempt
property allowances, for claims already presented which have not yet been allowed
or whose allowance has been appealed, and for unbarred claims which may yet be
presented, including costs and expenses of administration. By petition to the court
in a proceeding for the purpose, or by appropriate motion if the administration is
supervised, a claimant whose claim has been allowed but not paid as provided in
this subsection (1) may secure an order directing the personal representative to pay
the claim to the extent that funds of the estate are available for the payment.

(2) The personal representative at any time may pay any just claim which has
not been barred, with or without formal presentation, but he is personally liable to
any other claimant whose claim is allowed and who is injured by such payment if:

(a) The payment was made before the expiration of the time limit stated in
subsection (1) of this section and the personal representative failed to require the
payee to give adequate security for the refund of any of the payment necessary to
pay other claimants; or

(b) The payment was made, due to the negligence or willful fault of the
personal representative, in such manner as to deprive the injured claimant of his
priority.

Legislative History

Source: L. 73: R&RE, p. 1594, � 1. C.R.S. 1963: � 153-3-807. L. 90: (1) amended, p. 906, � 4, effective July 1.