Comments on: Using Colorado Beneficiary Deeds vs. Colorado Quitclaim Deeds To Avoid Probate: A Comparison http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/ Leading Colorado Law Firm Mon, 16 Jan 2012 17:09:35 +0000 hourly 1 http://wordpress.org/?v=3.1 By: DeAnn Boyles http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/comment-page-1/#comment-4226 DeAnn Boyles Thu, 05 Jan 2012 13:56:36 +0000 http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/#comment-4226 Mr. Turner, Does a General Power of Attorney, inclusive of real property powers, negate the need for a beneficiary deed? Mr. Turner,
Does a General Power of Attorney, inclusive of real property powers, negate the need for a beneficiary deed?

]]> By: Douglas Turner http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/comment-page-1/#comment-2295 Douglas Turner Mon, 31 Oct 2011 00:12:46 +0000 http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/#comment-2295 Paul: Thank you for the question. However, it is too broad to answer in an open forum. Please consult your probate counsel in the state where you are located. Regards, Douglas Turner Paul:

Thank you for the question. However, it is too broad to answer in an open forum. Please consult your probate counsel in the state where you are located.

Regards,

Douglas Turner

]]> By: paul dunlap http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/comment-page-1/#comment-2291 paul dunlap Sat, 29 Oct 2011 15:08:35 +0000 http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/#comment-2291 Question. You mention the Colorado Beneficiary Deed as a popular way to pass on timeshares. What recourse does a beneficiary have if they inherit a timeshare of no real value but with substantial maintenance obligations. Can the gift be declined or returned to the HOA by the beneficiary? Would if be better to leave the timeshare in the estate? Question. You mention the Colorado Beneficiary Deed as a popular way to pass on timeshares. What recourse does a beneficiary have if they inherit a timeshare of no real value but with substantial maintenance obligations. Can the gift be declined or returned to the HOA by the beneficiary? Would if be better to leave the timeshare in the estate?

]]> By: Douglas Turner http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/comment-page-1/#comment-2201 Douglas Turner Wed, 05 Oct 2011 13:23:32 +0000 http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/#comment-2201 Jerry: If there is a properly executed beneficiary deed recorded in the Colorado county where the real estate is locate prior to the Grantor's death, a Colorado probate is not necessary. Technically, the property passes upon the death of the Grantor -- no death certificate is require to change ownership. However, much like a joint tenancy situation, title is not marketable because there is no record of the death. Therefore, a certified copy of the death certificate is required. Regards dt Jerry:

If there is a properly executed beneficiary deed recorded in the Colorado county where the real estate is locate prior to the Grantor’s death, a Colorado probate is not necessary. Technically, the property passes upon the death of the Grantor — no death certificate is require to change ownership. However, much like a joint tenancy situation, title is not marketable because there is no record of the death. Therefore, a certified copy of the death certificate is required.

Regards

dt

]]> By: Jerry Garland http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/comment-page-1/#comment-2188 Jerry Garland Thu, 29 Sep 2011 14:22:55 +0000 http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/#comment-2188 Doug - upon the death of the grantor of a CO beneficiary deed (real estate), may the grantee beneficiary take a death certificate to the county recorder's office and have the property deed changed, or must the beneficiary process the grantor's will and death certificate through the probate court? Doug – upon the death of the grantor of a CO beneficiary deed (real estate), may the grantee beneficiary take a death certificate to the county recorder’s office and have the property deed changed, or must the beneficiary process the grantor’s will and death certificate through the probate court?

]]> By: Douglas Turner http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/comment-page-1/#comment-1512 Douglas Turner Sat, 19 Feb 2011 15:04:05 +0000 http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/#comment-1512 No, you cannot create a life estate with a beneficiary deed. I suggest the person trying to do this contact legal counsel to properly create the life estate. Sorry! Douglas Turner No, you cannot create a life estate with a beneficiary deed. I suggest the person trying to do this contact legal counsel to properly create the life estate.

Sorry!

Douglas Turner

]]> By: Stuart http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/comment-page-1/#comment-1504 Stuart Thu, 17 Feb 2011 21:02:52 +0000 http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/#comment-1504 Doug - Do you think you can create a life estate with a beneficiary deed - particularly since the statute says a beneficiary deed passes NO interest in the real property until after the death of the current owner? For instance, if the Grantor ultimately wants his kids to inherit the property upon his death, but in the mean time wants to make sure his brother is able to live there until Grantor dies. Doug – Do you think you can create a life estate with a beneficiary deed – particularly since the statute says a beneficiary deed passes NO interest in the real property until after the death of the current owner? For instance, if the Grantor ultimately wants his kids to inherit the property upon his death, but in the mean time wants to make sure his brother is able to live there until Grantor dies.

]]> By: Mike http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/comment-page-1/#comment-1045 Mike Tue, 25 May 2010 04:23:24 +0000 http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/#comment-1045 I'm curious as to when a lender of real property is assigned the beneficiary status with the deed of trust? I would think it's right away. I bought a property in Arlington VA a few years ago, from a broker lender, and it is found on the MERS system where MERS is listed as the beneficiary. MERS is not the lender; however, they they have rights to foreclose without any interest in the property or being a true beneficiary. This is baffling to me... Does (VA) realestate law require a certain time limit to assign the property a true beneficiary? and if it's not assigned, with-in a year so so, who has it on their accounting books? I’m curious as to when a lender of real property is assigned the beneficiary status with the deed of trust? I would think it’s right away. I bought a property in Arlington VA a few years ago, from a broker lender, and it is found on the MERS system where MERS is listed as the beneficiary. MERS is not the lender; however, they they have rights to foreclose without any interest in the property or being a true beneficiary. This is baffling to me… Does (VA) realestate law require a certain time limit to assign the property a true beneficiary? and if it’s not assigned, with-in a year so so, who has it on their accounting books?

]]> By: Douglas Turner http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/comment-page-1/#comment-968 Douglas Turner Mon, 08 Mar 2010 16:05:13 +0000 http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/#comment-968 Craig: Good question. I can give you my opinion, but it is only that - my opinion. I doubt a Colorado title company will prepare a Colorado beneficiary deed because is not a necessary part of providing title insurance. There is a court case from many years back where the Colorado court held that a Colorado title company is not practicing law when it prepares a warranty deed for a residential home sale. That is the issue - whether it is considered the practice of law. I do not think the beneficiary deed falls within that exception. It is probably considered the practice of law. The above said (1) ask your title company. Never hurts to ask. (2) At the time of sale, that would be a good time to have the lawyer prepare the Colorado beneficiary deed because the proper legal description is in the title work. It will be less expensive and the title company will probably send the Colorado beneficiary deed in for recording along with the warranty deed. Craig:

Good question. I can give you my opinion, but it is only that – my opinion.

I doubt a Colorado title company will prepare a Colorado beneficiary deed because is not a necessary part of providing title insurance. There is a court case from many years back where the Colorado court held that a Colorado title company is not practicing law when it prepares a warranty deed for a residential home sale. That is the issue – whether it is considered the practice of law. I do not think the beneficiary deed falls within that exception. It is probably considered the practice of law.

The above said (1) ask your title company. Never hurts to ask. (2) At the time of sale, that would be a good time to have the lawyer prepare the Colorado beneficiary deed because the proper legal description is in the title work. It will be less expensive and the title company will probably send the Colorado beneficiary deed in for recording along with the warranty deed.

]]> By: Craig http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/comment-page-1/#comment-966 Craig Sat, 06 Mar 2010 18:38:10 +0000 http://www.douglasturner.com/2008/01/09/using-colorado-beneficiary-deeds-vs-colorado-quit-claim-deeds-to-avoid-probate/#comment-966 Can title companies prepare and record beneficiary deeds at a home closing or does that specific deed have to be recorded later? Are attorneys only allowed to prepare beneficiary deeds? Thanks, Can title companies prepare and record beneficiary deeds at a home closing or does that specific deed have to be recorded later? Are attorneys only allowed to prepare beneficiary deeds? Thanks,

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