Until termination of his appointment a personal representative has the same power over the title to property of the estate that an absolute owner would have, in trust however, for the benefit of the creditors and others interested in the estate. This power may be exercised without notice, hearing, or order of court.
Source: L. 73: R&RE, p. 1589, § 1. C.R.S. 1963: § 153-3-711.
ANNOTATION
Annotator's note. Cases relevant to § 15-12-711 decided prior to its earliest source, § 153-3-711, C.R.S. 1963, have been included in the annotations to this section.
The Uniform Probate Code vests a personal representative with broad powers. Hill v. Boatright, 890 P.2d 180 (Colo. App. 1994), aff'd in part, rev'd in part on other grounds sub nom. Boatright v. Derr, 919 P.2d 221 (Colo. 1996).
An administrator is charged with a trust concerning decedent's interest in real estate. Murray v. Stuart, 79 Colo. 454, 247 P. 187 (1926).
He is forbidden by law to make a profit out of dealing on behalf of the estate. In re Macky's Estate, 73 Colo. 1, 213 P. 131 (1922); Murray v. Stuart, 79 Colo. 454, 247 P. 187 (1926).
Power to bring actions to set aside colorable inter vivos transfers. The administrator of the transferor's estate is authorized and also has standing to bring actions to set aside colorable inter vivos transfers. In re Scavello v. Scott, 194 Colo. 64, 570 P.2d 1 (1977).
The personal representative must act for the benefit of all interested in the estate. When there is a dispute regarding ownership of interstitial property, the personal representative must bring a separate proceeding to determine ownership. In re Estate of Masden, 24 P.3d 634 (Colo. App. 2001).
Applied in Fry & Co. v. Dist. Court, 653 P.2d 1135 (Colo. 1982).