Colorado § 38-10-101 - Conveyances to defraud.

§ 38-10-101. Conveyances to defraud.

Every conveyance of any estate or interest in the lands, or the rents and profits of lands, and every charge upon lands, or upon the rents and profits thereof, made or created with the intent to defraud prior or subsequent purchasers for a valuable consideration of the same lands, rents, or profits, as against such purchasers, shall be void.

Source: R.S. p. 337, § 1. G.L. § 1251. G.S. § 1510. R.S. 08: § 2655. C.L. § 5100. CSA: C. 71, § 1. CRS 53: § 59-1-1. C.R.S. 1963: § 59-1-1.

Cross references: For the statute of frauds as an affirmative defense, see C.R.C.P. 8(c).

ANNOTATION

Law reviews. For article, "The Statute of Frauds in Colorado", Part I, see 4 Rocky Mt. L. Rev. 29 (1931); Part II, see 4 Rocky Mt. L. Rev. 99 (1932). For note, "A Survey of the Colorado Torrens Act", see 5 Rocky Mt. L. Rev. 149 (1933). For article, "Unwritten Agreements for the Use of Land", see 14 Rocky Mt. L. Rev. 153, 294 (1942). For article, "A Decade of Colorado Law: Conflict of Laws, Security, Contracts and Equity", see 23 Rocky Mt. L. Rev. 247 (1951). For article, "Colorado's New Fraudulent Transfer Statutes", see 20 Colo. Law. 1815 (1991).

This section has no application to cases involving equitable trusts. In re Heinzman, 40 Colo. App. 262, 579 P.2d 638 (1977), aff'd, 198 Colo. 36, 596 P.2d 61 (1979).

Statute of frauds must be raised in pleadings. For the statute of frauds to be available as a defense, it must be raised in the pleadings; it cannot be urged for the first time in the supreme court on writ of error. Saccomano v. Palermo, 159 Colo. 307, 411 P.2d 22 (1966).

A collusive foreclosure under power of sale is a fraudulent conveyance. The fundamental element of a fraudulent conveyance is whether the debtor's estate is unjustly diminished. Megabank Financial v. Alpha Gamma Rho, 841 P.2d 318 (Colo. App. 1992).

A chattel mortgage is collusive if it is a transaction intended to delay creditors and to prevent the property of the debtor coming to their use. Megabank Financial v. Alpha Gamma Rho, 841 P.2d 318 (Colo. App. 1992).

A fraudulent conveyance results whether of real or personal property if, as a result of the debtor's operations on the title to his property, the creditor loses by reason of finding less to seize and apply to his claim; however, no injury can result from a sale of an asset at its fair value since the estate does not abate as a result of what was done. Megabank Financial v. Alpha Gamma Rho, 841 P.2d 318 (Colo. App. 1992).

Applied in First Mtg. Sec. Co. v. Fader, 100 Colo. 22, 64 P.2d 1278 (1937).