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Hey guys. I don't want to really get into the situation since its family business, but can anyone explain to me how intestate transfers of property work in Colorado? That is, when someone passes without a will, how the property is divided among the surviving spouse and children?
It depends on the ownership title - severalty/joint etc etc..Quote:
Originally Posted by Anton
if it was a single ownership w/o will/contract/etc - spouse and blood family are first. The way they divide it by priority...
1. The surviving spouse - full share
2. The surviving spouse and children - equal share
3. No surviving spouse - all children w/ equal share (or grandchildren if one of the child passed)
4. No spouse/children - it goes to the living parents
5. No spouse/children/living parents - it goes to bro/sis, then nieces/nephews and so on.
6. Nobody? State of CO gets it.
I just recently decided it was time in my life to put some of those questions to rest when the mobile home park where I live took over a home due to title problems. I took my son and had his name added to titles for my home,truck and camper. I also took out a cremation contract. I don't want to sound morbid about these things but I feel better knowing things are in some kind of order when I pass and my son will get my things and not the state (or the park) JMHO
Smart move!
For more details, anyone can google.. "COLORADO TABLE OF DESCENT AND DISTRIBUTION"