Section 15-20-110 - Protection of third person(1) With respect to property to which this act applies, a person is not liable under this act to the extent the person:(a) Transacts in good faith and for value:(I) With a community property spouse;(II) After the death of the decedent, with a surviving community property spouse, personal representative, heir, devisee, or nonprobate transferee of the decedent; or(III) With a fiduciary acting on behalf of any such person, or a trustee of a trust holding community property; and(b) Does not know or have reason to know that the other party to the transaction is exceeding or improperly exercising the party's authority.(2) Good faith under subsection (1)(a) of this section does not require the person to inquire into the extent or propriety of the exercise of authority by the other party to the transaction.Amended by 2023 Ch. 30, § 1, eff. 7/1/2023.L. 73: p. 1655, § 1. C.R.S. 1963: § 153-22-9.