C.R.S. Section 15-15-211
Ownership during lifetime

(1)

In this section, “net contribution” of a party means the sum of all deposits to an account made by or for the party, less all payments from the account made to or for the party which have not been paid to or applied to the use of another party and a proportionate share of any charges deducted from the account, plus a proportionate share of any interest or dividends earned, whether or not included in the current balance. The term includes deposit life insurance proceeds added to the account by reason of death of the party whose net contribution is in question.

(2)

During the lifetime of all parties, an account belongs to the parties in proportion to the net contribution of each to the sums on deposit, unless there is clear and convincing evidence of a different intent. As between parties married to each other, in the absence of proof otherwise, the net contribution of each is presumed to be an equal amount.

(3)

A beneficiary in an account having a POD designation has no right to sums on deposit during the lifetime of any party.

(4)

An agent in an account with an agency designation has no beneficial right to sums on deposit.

Source: Section 15-15-211 — Ownership during lifetime, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-15.­pdf (accessed Oct. 20, 2023).

15‑15‑101
Nonprobate transfers on death 15‑15‑102
Will not to affect joint tenancy in real property or personalty 15‑15‑103
Liability of nonprobate transferees for creditor claims and statutory allowances 15‑15‑201
Definitions 15‑15‑202
Limitation on scope of part 15‑15‑203
Types of account 15‑15‑204
Forms 15‑15‑205
Designation of agent 15‑15‑206
Applicability of part 15‑15‑211
Ownership during lifetime 15‑15‑212
Rights at death 15‑15‑213
Alteration of rights 15‑15‑214
Accounts and transfers nontestamentary 15‑15‑216
Community property and tenancy by the entireties 15‑15‑221
Authority of financial institution 15‑15‑222
Payment on multiple-party account 15‑15‑223
Payment on POD designation 15‑15‑224
Payment to designated agent 15‑15‑225
Payment to minor 15‑15‑226
Discharge 15‑15‑227
Set-off 15‑15‑301
Definitions 15‑15‑302
Registration in beneficiary form 15‑15‑303
Registration in beneficiary form 15‑15‑304
Origination of registration in beneficiary form 15‑15‑305
Form of registration in beneficiary form 15‑15‑306
Effect of registration in beneficiary form 15‑15‑307
Ownership on death of owner 15‑15‑308
Protection of registering entity 15‑15‑309
Nontestamentary transfer on death 15‑15‑310
Terms, conditions, and forms for registration 15‑15‑311
Application of part 15‑15‑401
Definitions 15‑15‑402
Real property - beneficiary deed 15‑15‑403
Medicaid eligibility exclusion 15‑15‑404
Form of beneficiary deed - recording 15‑15‑405
Revocation - change - revocation by will prohibited 15‑15‑406
Acknowledgment 15‑15‑407
Vesting of ownership in grantee-beneficiary 15‑15‑408
Joint tenancy - definitions 15‑15‑410
Purchaser from grantee-beneficiary protected 15‑15‑411
Limitations on actions and proceedings against grantee-beneficiaries 15‑15‑412
Nontestamentary disposition 15‑15‑413
Proof of death 15‑15‑414
Disclaimer 15‑15‑415
Applicability
Green check means up to date. Up to date

Current through Fall 2024

§ 15-15-211’s source at colorado​.gov