§ 28-5-216 — Purchase of home for ward

(1) The court may authorize the
purchase of the entire fee simple title to real estate in this state in which the
guardian has no interest, but only as a home for the ward, or to protect his or her
interest, or as a home for his or her dependent family. Such purchase of real estate
shall not be made except upon the entry of an order of the court after hearing upon
verified petition. A copy of the petition shall be furnished the proper office of the
veterans administration, and notice of hearing thereon shall be given said office as
provided in the case of hearing on a guardian's account.

(2) Before authorizing such investment, the court shall require written
evidence of value and of title and of the advisability of acquiring such real estate.
Title shall be taken in the ward's name. This section does not limit the right of the
guardian on behalf of his or her ward to bid and to become the purchaser of real
estate at a sale thereof pursuant to decree of foreclosure of lien held by or for the
ward, or at a trustee's sale, to protect the ward's right in the property so foreclosed
or sold; nor does it limit the right of the guardian, if such is necessary to protect the
ward's interest and upon prior order of the court in which the guardianship is
pending, to agree with cotenants of the ward for a partition in kind, or to purchase
from cotenants the entire undivided interests held by them, or to bid and purchase
the same at a sale under a partition decree, or to compromise adverse claims of title
to the ward's realty.

Legislative History

Source: L. 45: p. 657, � 15. CSA: C. 150, � 55 (15). CRS 53: � 143-3-15. C.R.S. 1963: � 144-3-15. L. 2002: Entire section amended, p. 624, � 133, effective May 24.