Colo. Rev. Stat. § 15-11-806

Current through Acts effective through 6/7/2024 of the 2024 Legislative Session

Section 15-11-806 - Reformation to correct mistakes

The court may reform the terms of a governing instrument other than a trust that is governed by section 15-5-415, even if unambiguous, to conform the terms to the transferor's intention if it is proved by clear and convincing evidence what the transferor's intent was and that the terms of the governing instrument were affected by a mistake of fact or law, whether in expression or inducement.

C.R.S. § 15-11-806

Amended by 2018 Ch. 169, § 10, eff. 1/1/2019.

L. 2009: Entire section added, (HB 09 -1287), ch. 310, p. 1687, § 15, effective 7/1/2010. L. 2018: Entire section amended, (SB 18-180), ch. 169, p. 1193, § 10, effective 1/1/2019.

COMMENT

Added in 2008, Section 2-805 is based on Section 415 of the Uniform Trust Code, which in turn was based on Section 12.1 of the Restatement (Third) of Property: Wills and Other Donative Transfers (2003).

Section 2-805 is broader in scope than Section 415 of the Uniform Trust Code because Section 2-805 applies but is not limited to trusts.

Section 12.1, and hence Section 2-805, is explained and illustrated in the Comments to Section 12.1 of the Restatement and also, in the case of a trust, in the Comment to Section 415 of the Uniform Trust Code.

For provisions relating to the time of taking effect or the provisions for transition of this code, see § 15-17-101 .