Colorado § 15-15-211 - Ownership during lifetime.
Full text of Colorado Colorado Revised Statutes § 15-15-211 — Ownership during lifetime., with citation guidance and answers to common questions.
§ 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: L. 90: Entire article R&RE, p. 913, § 1, effective July 1.
Editor's note: This section is similar to former § 15-15-103 as it existed prior to 1990.
ANNOTATION
Annotator's note. The following annotations include cases decided under former provision similar to this section.
Clear and convincing evidence is required to rebut the presumption that, as between parties married to each other, the net contribution of each is an equal amount. Harvey v. Harvey, 841 P.2d 375 (Colo. App. 1992).
Changing accounts from multi-party to sole accounts before divorce did not affect the other spouse's rights since the accounts remained part of the marital estate and either party had a legal right to deplete the joint accounts. Estate of Westfall v. Westfall, 942 P.2d 1227 (Colo. App. 1996).
Applied in In re Estate of Beasley, 40 Colo. App. 347, 578 P.2d 662 (1978).
Frequently Asked Questions About Colorado § 15-15-211
What does Colorado Revised Statutes § 15-15-211 cover?
Section 15-15-211 ("Ownership during lifetime.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 15-15-211?
A common citation format is "Colorado Revised Statutes § 15-15-211" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 15-15-211 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.