Title 38, Property - Real and Personal
0 chapters · 857 sections in this title.
Colo. Rev. Stat. § 38-13-218 Property held by racetracks - inapplicability
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This article 13 does not apply to any intangible unclaimed property held by a racetrack, as defined in section 44-32-102 (24). Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 424, � 1, effective July 1, 2020. Editor's note: This section is similar to former � 38-13…
Colo. Rev. Stat. § 38-13-219 Unclaimed gift cards - limited exception
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This article 13 does not apply to unclaimed gift cards if the holder or issuer is a business association with annual gross receipts from the sales or issuance of all gift cards totaling two hundred thousand dollars or less. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 1…
Colo. Rev. Stat. § 38-13-220 Tax refunds
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(1) On and after October 1, 2002, any amount due and payable as a refund of Colorado income tax or grant for property taxes, rent, or heat or fuel expenses assistance represented by a warrant that has not been presented for payment within six months after the date of issuance of …
Colo. Rev. Stat. § 38-13-301 Address of apparent owner to establish priority
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(1) In this part 3, the following rules apply: (a) The last-known address of an apparent owner is any description, code, or other indication of the location of the apparent owner that identifies the state, even if the description, code, or indication of location is not sufficient…
Colo. Rev. Stat. § 38-13-302 Address of apparent owner in this state
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(1) The administrator may take custody of property that is presumed abandoned, whether located in this state, another state, or a foreign country if: (a) The last-known address of the apparent owner in the records of the holder is in this state; or (b) The records of the holder d…
Colo. Rev. Stat. § 38-13-303 If records show multiple addresses of apparent owner
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(1) Except as otherwise provided in subsection (2) of this section, if records of a holder reflect multiple addresses for an apparent owner and if this state is the state of the most recently recorded address, this state may take custody of property presumed abandoned, whether lo…
Colo. Rev. Stat. § 38-13-304 Holder domiciled in this state
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(1) Except as otherwise provided in subsection (2) of this section or in section 38-13-302 or 38-13-303, the administrator may take custody of property presumed abandoned, whether located in this state, another state, or a foreign country, if the holder is domiciled in this state…
Colo. Rev. Stat. § 38-13-305 Custody if transaction took place in this state
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(1) Except as otherwise provided in sections 38-13-302, 38-13-303, and 38-13-304, the administrator may take custody of property presumed abandoned whether located in this state or another state if: (a) The transaction out of which the property arose took place in this state; (b)…
Colo. Rev. Stat. § 38-13-306 Traveler's check, money order, or similar instrument
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The administrator may take custody of sums payable on a traveler's check, money order, or similar instrument presumed abandoned to the extent permissible under federal law. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 426, � 1, effective July 1, 2020.
Colo. Rev. Stat. § 38-13-307 Burden of proof to establish administrator's right to custody
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(1) If the administrator asserts a right to custody of unclaimed property, the administrator has the burden to prove: (a) The existence and amount of the property; (b) That the property is presumed abandoned; and (c) That the property is subject to the custody of the administrato…
Colo. Rev. Stat. § 38-13-401 Report required by holder
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(1) A holder of property presumed abandoned and subject to the custody of the administrator shall report in a record to the administrator concerning the property. The administrator shall not require a holder to file a paper report. (2) A holder may contract with a third party to …
Colo. Rev. Stat. § 38-13-402 Content of report
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(1) The report required under section 38-13-401 must: (a) Be signed by or on behalf of the holder and verified as to its completeness and accuracy; (b) If filed electronically, be in a secure format approved by the administrator that protects confidential information of the appar…
Colo. Rev. Stat. § 38-13-403 When report to be filed
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(1) Except as otherwise provided in subsection (2) of this section and subject to subsection (3) of this section, the report under section 38-13-401 must be filed before November 1 of each year and cover the twelve months preceding July 1 of that year. (2) Subject to subsection (…
Colo. Rev. Stat. § 38-13-404 Retention of records by holder
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(1) A holder required to file a report under section 38-13-401 shall retain records for six years after the later of the date the report was filed or the last date a timely report was due to be filed, unless a shorter period is provided by rule of the administrator. A holder may …
Colo. Rev. Stat. § 38-13-405 When property reportable and payable or deliverable
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Property is reportable and payable or deliverable under this article 13 even if the owner fails to make demand or present an instrument or document otherwise required to obtain payment. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 429, � 1, effective July 1, 202…
Colo. Rev. Stat. § 38-13-501 Notice to apparent owner by holder
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(1) Subject to subsection (2) of this section, the holder of property presumed abandoned shall send to the apparent owner notice that complies with section 38-13-502 in a format acceptable to the administrator, by first-class United States mail, not more than one hundred eighty d…
Colo. Rev. Stat. § 38-13-502 Contents of notice by holder
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(1) The notice under section 38-13-501 must contain a heading that reads substantially as follows: Notice. The State of Colorado requires us to notify you that your property may be transferred to the custody of the state treasurer if you do not contact us before [insert date that…
Colo. Rev. Stat. § 38-13-503 Notice by administrator
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(1) The administrator shall give notice to an apparent owner that property that is presumed abandoned and appears to be owned by the apparent owner is held by the administrator under this article 13. (2) In providing notice under subsection (1) of this section, the administrator …
Colo. Rev. Stat. § 38-13-601 Definition of good faith
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(1) In this part 6, payment or delivery of property is made in good faith if a holder: (a) Had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to the administrator under this article 13; or (b) M…
Colo. Rev. Stat. § 38-13-602 Dormancy charge
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(1) A holder may deduct a dormancy charge from property required to be paid or delivered to the administrator if: (a) A valid contract between the holder and the apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property within a spe…
Colo. Rev. Stat. § 38-13-603 Payment or delivery of property to administrator
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(1) Except as otherwise provided in this section, on filing a report under section 38-13-401, the holder shall pay or deliver to the administrator the property described in the report. (2) If property in a report under section 38-13-401 is an automatically renewable deposit and a…
Colo. Rev. Stat. § 38-13-604 Effect of payment or delivery of property to administrator
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On payment or delivery of property to the administrator under this article 13, the administrator as agent for the state assumes custody and responsibility for the safekeeping of the property. A holder that pays or delivers property to the administrator in good faith and that subs…
Colo. Rev. Stat. § 38-13-605 Recovery of property by holder from administrator
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(1) A holder that pays money to the administrator under this article 13 may file a claim for reimbursement from the administrator of the amount paid within two years of remitting and reporting the money paid if the holder: (a) Paid the money in error; or (b) After paying the mone…
Colo. Rev. Stat. § 38-13-606 Crediting income or gain to owner's account
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If property other than money is delivered to the administrator, the owner is entitled to receive from the administrator income or gain realized or accrued on the property before the property is sold. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 434, � 1, effecti…
Colo. Rev. Stat. § 38-13-607 Administrator's options as to custody
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(1) The administrator may decline to take custody of property reported under section 38-13-401 if the administrator determines that: (a) The property has a value less than the estimated expenses of notice and sale of the property; or (b) Taking custody of the property would be un…
Colo. Rev. Stat. § 38-13-609 Periods of limitation and repose
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(1) Expiration, before, on, or after July 1, 2020, of a period of limitation on an owner's right to receive or recover property, whether specified by contract, statute, or court order does not prevent the property from being presumed abandoned or affect the duty of a holder to fi…
Colo. Rev. Stat. § 38-13-701 Public sale of property
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(1) Subject to section 38-13-702, not earlier than three years after receipt of property that is presumed abandoned, the administrator may sell the property. (2) Before selling property under subsection (1) of this section, the administrator shall give notice to the public of: (a…
Colo. Rev. Stat. § 38-13-702 Disposal of securities - definition
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(1) The administrator shall not sell or otherwise liquidate a security until three years after the administrator receives the security and gives the apparent owner notice under section 38-13-503 that the administrator holds the security. This subsection (1) applies to any securit…
Colo. Rev. Stat. § 38-13-703 Recovery of securities or value by owner
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(1) A person that makes a valid claim under this article 13 of ownership of a security is entitled to receive: (a) The security the holder delivered to the administrator, if it is in the custody of the administrator, plus dividends, interest, and other increments on the security …
Colo. Rev. Stat. § 38-13-704 Purchaser owns property after sale
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A purchaser of property at a sale conducted by the administrator under this article 13 takes the property free of all claims of the owner, a previous holder, or a person claiming through the owner or holder. The administrator shall execute documents necessary to complete the tran…
Colo. Rev. Stat. § 38-13-705 Military medal or decoration
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(1) The administrator shall not sell a medal or decoration awarded for military service in the armed forces of the United States. (2) The administrator, with the consent of the respective organization under subsection (2)(a) of this section, agency under subsection (2)(c) of this…
Colo. Rev. Stat. § 38-13-802 Administrator to retain records of property
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(1) The administrator shall: (a) Record and retain the name and last-known address of each person shown on a report filed under section 38-13-401 to be the apparent owner of the property delivered to the administrator; (b) Record and retain the name and last-known address of each…
Colo. Rev. Stat. § 38-13-803 Administrator holds property as custodian for owner
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Property received by the administrator under this article 13 is held in custody for the benefit of the owner and is not owned by the state. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 440, � 1, effective July 1, 2020.
Colo. Rev. Stat. § 38-13-901 Claim of another state to recover property
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(1) If the administrator knows that property held by the administrator under this article 13 is subject to a superior claim of another state, the administrator shall: (a) Report and pay or deliver the property to the other state; or (b) Return the property to the holder so that t…
Colo. Rev. Stat. § 38-13-902 When property subject to recovery by another state
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(1) Property held by the administrator under this article 13 is subject to the right of another state to take custody of the property if: (a) The property was paid or delivered to the administrator because the records of the holder did not reflect a last-known address in the othe…
Colo. Rev. Stat. § 38-13-902.1 Claims offset for child support
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(1) Before paying a claim pursuant to section 38-13-905 in an amount exceeding six hundred dollars, the administrator shall offset against the amount of the claim the claimant's obligations to pay current child support, child support debt, retroactive child support, child support…
Colo. Rev. Stat. § 38-13-902.3 Claims offset for state tax delinquencies
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(1) Before paying a claim pursuant to section 38-13-905 in an amount exceeding six hundred dollars, the administrator shall compare the social security number or federal employer identification number of the claimant with the numbers certified by the department of revenue for the…
Colo. Rev. Stat. § 38-13-903 Claim for property by person claiming to be owner
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(1) A person claiming to be the owner of property held by the administrator under this article 13 may file a claim for the property on a form prescribed by the administrator. (2) The administrator may waive the requirement in subsection (1) of this section and may pay or deliver …
Colo. Rev. Stat. § 38-13-904 When administrator must honor claim for property
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(1) The administrator shall pay or deliver property to a claimant under section 38-13-903 if the administrator receives evidence sufficient to establish to the satisfaction of the administrator that the claimant is the owner of the property. The general assembly recognizes and re…
Colo. Rev. Stat. § 38-13-905 Allowance of claim for property
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(1) Not later than thirty days after a claim is allowed under section 38-13-904 (2) or, in the case of a security, not later than forty-five days after the claim is allowed under section 39-13-904 (2), the administrator shall pay or deliver to the owner the property or pay to the…
Colo. Rev. Stat. § 38-13-906 Action by person whose claim is denied
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Not later than one year after filing a claim with the administrator under section 38-13-903, the claimant may commence an action against the administrator in the district court for the city and county of Denver to establish a claim that has been denied or deemed denied under sect…