§ 15-15-307 — Ownership on death of owner

Colorado § 15-15-307

• Jurisdiction: Colorado
• Title 15: Probate,
• Art.: Nonprobate Transfers on Death

Text

On death of a sole owner or the
last to die of all multiple owners, ownership of securities registered in beneficiary
form passes to the beneficiary or beneficiaries who survive all owners. On proof of
death of all owners and compliance with any applicable requirements of the
registering entity, a security registered in beneficiary form may be reregistered in
the name of the beneficiary or beneficiaries who survived the death of all owners.
Until division of the security after the death of all owners, multiple beneficiaries
surviving the death of all owners hold their interests as tenants in common. If no
beneficiary survives the death of all owners, the security belongs to the estate of
the deceased sole owner or the estate of the last to die of all multiple owners.

Legislative History

Source: L. 90: Entire article R&RE, p. 918, � 1, effective July 1.