Colo. Rev. Stat. § 15-22-111

Current through 11/5/2024 election

Section 15-22-111 - Revocation of a designated beneficiary agreement

(1) A designated beneficiary agreement that has been recorded with a county clerk and recorder may be unilaterally revoked by either party to the agreement by recording a revocation with the clerk and recorder of the county in which the agreement was recorded. A revocation shall be dated, signed, and acknowledged. The revocation shall be effective on the date and time the revocation is received for recording by the county clerk and recorder. The clerk and recorder shall issue a certified copy to the party recording the revocation and shall mail a certified copy of the revocation to the last-known address of the other party to the designated beneficiary agreement.

(2) The county clerk and recorder shall assess fees, as provided in section 30-1-103, C.R.S., for recording a revocation agreement and issuing two certified copies of the revocation agreement, plus an additional amount to cover the cost of first class postage for mailing a certified copy of the revoked designated beneficiary agreement to the other party. The fees collected by the clerk and recorder shall be deposited in the county clerk's fee fund maintained as required in section 30-1-119, C.R.S.

(3) A designated beneficiary agreement shall be deemed revoked upon the marriage or the civil union of either party. In the case of a common law marriage, a designated beneficiary agreement shall be deemed revoked as of the date the court determines that a valid common law marriage exists.

(4) The following statutory form shall be the standard form for a revocation of a designated beneficiary agreement:

REVOCATION

OF DESIGNATED BENEFICIARY AGREEMENT

I __________ (insert your full name), reside at __________ (insert your current address) and I entered into a designated beneficiary agreement on __________ (insert the date) with the following person __________ (insert the other person's name) whose last-known address is __________ in which I designated such person as a designated beneficiary. This designated beneficiary agreement was recorded on __________ (insert the date) in the county of __________. The indexing file number of the designated beneficiary agreement is __________. I hereby revoke that designated beneficiary agreement, effective on the date and time that this revocation is received for recording by the clerk and recorder of __________ county.

__________________________

NameDate

STATE OF COLORADO

County of __________

This document was subscribed, sworn to, and acknowledged before me on __________ date

by

__________

My commission expires __________

[Seal]

__________________________

Notary Public

This revocation of beneficiary agreement was recorded in my office on ___________________, ___________________, at ___________________ o'clock, and, pursuant to section 15-22-111, Colorado Revised Statutes, I mailed a copy of this revocation of beneficiary agreement to ___________________ at the address contained in this revocation of beneficiary agreement.

Clerk and Recorder of

__________ County

By: __________

C.R.S. § 15-22-111

Amended by 2013 Ch. 49, § 25, eff. 5/1/2013.

L. 2009: Entire article added, (HB 09 -1260), ch. 107, p. 437, § 1, effective July 1. L. 2013: (3) amended, (SB 13-011), ch. 49, p. 167, § 25, effective May 1.