§ 15-15-410 — Purchaser from grantee-beneficiary protected

Colorado § 15-15-410

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

Text

(1) Subject to
the rights of claimants under section 15-15-407 (2), if the property acquired by a
grantee-beneficiary or a security interest therein is acquired for value and without
notice by a purchaser from, or lender to, a grantee-beneficiary, the purchaser or
lender shall take title free of rights of an interested person in the deceased owner's
estate and shall not incur personal liability to the estate or to any interested person.

(2) For purposes of this section, any recorded instrument evidencing a
transfer to a purchaser from, or lender to, a grantee-beneficiary on which a state
documentary fee is noted pursuant to section 39-13-103, C.R.S., shall be prima facie
evidence that the transfer was made for value. Any such sale or loan by the
grantee-beneficiary shall not relieve the grantee-beneficiary of the obligation to
the personal representative of the deceased owner's estate under section 15-15-103.

Legislative History

Source: L. 2004: Entire part added, p. 732, � 1, effective August 4. L. 2007: (2) amended, p. 2028, � 32, effective June 1.