Domestic and foreign religious, educational, charitable, and literary corporations or associations operating within the state may take by gift, devise, or purchase, and hold and convey real and personal property. All gifts, devises, and grants made prior to March 14, 1877, to such corporations or associations are hereby ratified.
Source: G.L. § 235. G.S. § 378. R.S. 08: § 1024. C.L. § 2390. CSA: C. 41, § 183. CRS 53: § 31-21-7. C.R.S. 1963: § 31-20-7.
ANNOTATION
Law reviews. For article, "Restrictions on Charitable Gifts in Colorado", see 23 Rocky Mt. L. Rev. 434 (1951).
"Formal title" approach to resolving church property disputes. In resolving church property disputes, the appellate court applies the neutral principles approach, specifically the "formal title" approach. On this basis, the court can determine ownership by studying deeds, reverter clauses, and general state corporation laws. Dickey v. Snodgrass, 673 P.2d 51 (Colo. App. 1983).
A library association is educational and therefore within the terms of this section; consequently, it may take property under a will. Tomay v. Crist, 75 Colo. 437, 226 P. 156 (1924).
Foreign corporation may act as trustee of charitable trust. A foreign corporation, if it possesses by the law of its creation the requisite power so to do, may act as trustee of a charitable trust where the subject matter thereof is personalty and may take lands as such trustee where not prohibited by the law of the state wherein the land is located. This section contains no such prohibition; rather, this section on its face is one of authorization to foreign as well as domestic corporations operating within the state. Galiger v. Armstrong, 114 Colo. 397, 165 P.2d 1019 (1946).
Charitable organization may execute charitable trust. A charitable organization, being authorized to take, receive, and hold gifts for charitable purposes, is also capable of executing a charitable trust. Clayton v. Hallett, 30 Colo. 231, 70 P. 429 (1902); In re Estate of Forrester, 86 Colo. 221, 279 P. 721 (1929).